What happens when any market is in disequilibrium and prices are flexible

5. Describe a product you know of that has elastic demand. Why is the demand for this

nalin [4]

A good or service is said to be highly elastic if there is a a slight change in price this will cause a sharp change in the quantity. Usually these kinds of products are readily available in the market - example is jewelry. lottery ticket.

4 0

3 years ago

David and Lilly Fernandez have determined their tax liability on their joint tax return to be $1,700. They have made prepayments

Snowcat [4.5K]

Answer:

-$1,800

Explanation:

Given that

Tax liability = $1,700

Prepayment made = $1,500

Child tax credit = $2,000

The computation of tax refund is given below:-

= Tax liability - (Prepayment made + Child tax credit)

= $1,700 - ($1,500 + $2,000)

= $1700 - $3500

= -$1,800

Therefore, from the above calculation simply we subtract tax liability from prepayment and child tax credit.

3 0

3 years ago

Apple anticipates it will sell 100,000 units in the coming year. It is considering investing in a new machine that will increase

Vilka [71]

Incomplete question. However, it would be inferred you want to know the requirements to calculate net income.

<u><em>Explanation</em></u>:

Remember, net income is total revenue minus total cost. Since Apple anticipates selling 100,000 units, if we assume the fixed cost to be $2,400 and the variable cost $34, and selling price unit is $150.

Total cost= 2400+ (34*100,000)= 3,400,000
Total Revenue= 150*100,000= $15,000,000
Net income= 15,000,000-3,400,000= $11,600,000

The Net income is therefore $11,600,000.

7 0

3 years ago

Bramble Company typically sells subscriptions on an annual basis, and publishes six times a year. The magazine sells 102000 subs

nirvana33 [79]

The answer is option A. a. Cash 900,000 Unearned

Subscription Revenue 900,000

On the part of the seller, the sale of 60,000

Magazines at $15 constitute liability.

Remember that cash has already been received by the company.

Hence, this amount is yet to be earned by the company that it is considered liability on the part of the seller.

Account Title Debit Credit

Cash 60,000 subscriptions * $15 $900,000

Unearned Subscription Revenue $900,000

Take note that the unearned subscription revenue is amortized to subscription revenue on a monthly or yearly basis.

Disclaimer:-your question is incomplete, please see below for complete question.

a. Cash 900,000 Unearned

Subscription Revenue 900,000

b. Prepaid Subscriptions 900,000

Cash 900,000 Subscriptions

c. Receivable 150,000

Unearned Subscription Revenue 150,000

d. Subscriptions Receivable 900,000

Subscription Revenue 900,000

Learn more about subscriptions here:-brainly.com/question/15301858

#SPJ4

4 0

1 year ago

What would be the purchase price for a $5,000, 91-day T-bill paying 3% interest?

Nat2105 [25]

Well, you just need to find it using this formula :

5,000 x [100 % - (3% x 91/365)]

= 5,000 x [ 100 % - 0.007479]

= 5,000 x 99.992521

= $ 4,962.50 >>> rounded

Hope this help

3 0

3 years ago

Read 2 more answers