Answer: Elasticity of demand is 7.06
Explanation:
P1= $2,750
P2=$2,880
Q1=446,000
Q2=321,000
Elasticity = -0.76
Thus, elasticity of demand for laptops is 7.06. This means that laptops are highly price elastic as it is greater than 1.
Answer:
Since the capital account and owner's equity accounts are expected to have credit balances, the drawing account (having a debit balance) is considered to be a contra account. In addition, the drawing account is a temporary account since its balance is closed to the capital account at the end of each accounting year.
Explanation:
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Investors can receive compounding returns by investing their earnings back into their original investment. For example, if they earn $10 from a stock they invested in, they would place that $10 back into the stock that earned them that money.
Answer: The higher the risk, the higher the return.
Returns from an investment refers to the gains or losses over a specified period, and is quoted as percentage.
Risk refers to the possibility or the chance that the actual return that is earned is greater than or less than the return expected by the investor. Thus, uncertainty is another name for risk.
If the returns from an investment are certain, the risk involved is low. When risk is low, the returns are also low. For e.g. the return from a T-bill is low because the risk of default is zero, since the government can print money to fund its debt.
The higher the level of risk involved, the greater the potential for a higher return.
