If the price of natural gas rises, the price elasticity of demand is likely to be the highest one year after the price increase.
<h3>What is the price elasticity of demand?</h3>
A measure of a product's consumption shift in response to a price change is called price elasticity of demand. The quantity shift in percentage terms divided by the price change in percentage terms is used to determine the price elasticity of demand.
The price elasticity of demand would probably be at its peak if the price of natural gas increased. Elasticity will be strongest in the long run since consumers would start exploring alternatives as a result of ongoing price increases.
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B............................
Answer:
21.28%
Explanation:
Nominal annual percentage = Discount/(100-discount) * 365/(Days paid after purchase - Days of discount period)
Nominal annual percentage = 2/(100-2) *365/(45-10)
Nominal annual percentage = 2/98 * 365/35
Nominal annual percentage = 0.02041 * 10.4286
Nominal annual percentage = 0.212847726
Nominal annual percentage = 21.28%
Answer:
The correct option is C,$170
Explanation:
The inventory of surgical equipment is to be valued at lower of cost and or market rule.
On the cost side there is only amount,which is the original cost of $170,but the market facing amounts are replacement and net realizable value.
The replacement cost of $240 is higher than the net realizable value of $230(net realizable value is selling price of $260 less costs to sell of $30).
Finally in comparing the cost and net realizable value,cost is lower,hence the inventory of surgical equipment is valued at $170 cost price
