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Mumz [18]
3 years ago
10

The time horizon of the demand curve is one determinant of the price elasticity of demand.If the price of gasoline is relatively

high for a long time, consumers are more likely to buy fuel-efficient cars or switch to alternatives like public transportation. Therefore, the demand for gasoline is ―――― elastic in the long run than in the short run.
Business
1 answer:
Genrish500 [490]3 years ago
3 0

Answer:

more

Explanation:

we know that here Price Elasticity of demand  is express as

Price Elasticity of demand = PercentageChange is quantity demanded ÷ PercentageChange in price    ...........................1

so that, Demand for gasoline is more elastic in the long run than in the short run because in the long run people can change their preferences and choices.

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Which of the following scenarios would be included in GDP? Pam buys a new 40-inch television at Walmart. Sandra is a waitress at
kkurt [141]

Answer:

A.  Pam buys a new 40-inch television at Walmart.

Explanation:

Gross Domestic Product is the sum monetary value of goods and services purchased in a country within a specific length of time. It can be calculated on an annual or quarterly basis. It helps economists in making decisions. The GDP has to be recorded so that it can be accounted for. The GDP is calculated based on income, expenditure, or production.

From the options given, only Pam has performed an activity that can be rightly included in GDP. This is because she purchased an item (expenditure) that would be recorded by the supermarket and eventually accounted for in the country's GDP.

3 0
3 years ago
Reese, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December, she received
Nady [450]

Answer:

$14,960

Explanation:

Pay $22,000 bill in December:

$22,000 tax deduction × 32%marginal tax rate = $7,040 in present value tax savings.

After-tax cost= Pretax Cost − Present Value

Tax Savings= $22,00 − $7,040

= $14,960

Therefore the after-tax cost if she pays the $22,000 bill in December will be $14,960

8 0
3 years ago
Read 2 more answers
Manufacturing reports the following data for the month: Purchases of raw materials, on account $55,250 Materials requisitions: D
xxMikexx [17]

Answer:

Journal 1

Direct Materials $49750 (Debit), Indirect Materials $3700,(Debit)  Direct labor $ 51000 (Debit), Indirect labor $ 2500 ( Debit), Manufacturing Overhead Account $106960 (Credit)

Journal 2

Manufacturing Overhead Account $106960 (Debit), Accounts Payable $106960

Explanation:

Journal 1

Materials and Labor (both direct and indirect) resource acquired shows an accumulation of resources needed for manufacturing process.

Therefore these resources are being recorded in their respective accounts and transferred to manufacturing overhead account.

Journal 2

Both materials and Labor acquired for manufacturing process are still owing.The journal represent a present obligations in settlement of the Manufacturing overhead (Both for Materials and Labor)

7 0
3 years ago
Legazint, a law firm, organizes its staff into departments based on the type of clients the department deals with. These departm
Ksenya-84 [330]

Legazint most likely follows <u>b. a customer-based division</u>.

<u>Explanation:</u>

The customer-based division is generally followed in an organization to split the functional areas based on the customer demand. This is mainly followed due to increase in production and sales. The working departments are classified into separate categories.

In the above scenario, customer-based division is followed in the law firm. This was done for the facilitation of the clients. The staffs are organized into separate departments based on the client demands. The common departments are federally incorporated organizations, partnerships, corporations, sole proprietorship and limited liability companies.

6 0
3 years ago
ليش اخذنه ربعين احنه عدنه ثلاث ارباع
Genrish500 [490]

Answer:

what?

Explanation:

I don't understand your question

8 0
3 years ago
Read 2 more answers
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