What is a software program for navigating the web and displaying websites and pages? A. Web browser B. Internet service C. Searc
2 answers:
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Answer:
Elascticity of supply is 2.38, which means that it is highly elastic.
Explanation:
At a wage rate of $50 per hour, Charles is willing to work 10 hours per week.
At a wage rate of $65 per hour, he is willing to work 19 hours per week.
Here,
P1 = $50, P2 = $65, Q1 = 10 hours, Q2=19 hours
Change in labor supply
=
=
=
= 0.62
Change in labor price
=
=
=
= 0.26
Elasticity of supply
=
=
=2.38
Elascticity of supply is 2.38, which means that it is highly elastic.
Answer and Explanation:
The adjusting entries are shown below"
A. Supplies Expense $1,000 ($7,500 - $6,500)
To Supplies $1,000
(Being the Supplies Expense is adjusted)
B. Insurance Expense $18,000 ($24,000 - $6,000)
To Prepaid Insurance $18,000
(Being Insurance Expense is adjusted)
C. Unearned Service Revenue $1,800 ($3,000 - $1,200)
To Service Revenue $1,800
(Being Service Revenue is adjusted)
D. Salaries Expense $2,400
To Salaries Payable $2,400
(being Salaries Expense is adjusted)
E. Depreciation Expense $18,000
To Accumulated Depreciation- Property Plant and Equipment $18,000
(Being Depreciation Expense is adjusted)
