Answer:
Explanation:
The journal entry is presented below:
Cash A/c Dr $1,800
To Accounts receivable A/c $1,800
(Being the cash is received)
Since the cash is received so we debited the cash account and there is a decrease in account receivable so this account should be credited. Both the accounts are recorded at $1,800 each.
Answer:
The elasticy of demand is 0.54 so it is inelastic
Explanation:
The midpoint method use the average percentage change in both quantity and price.
The fromula is ((Q2-Q1)/((Q2+Q1)/2))/((P2-P1)/((P2+P1)/2))
Q is quantity and P is price
((300-250)/((300+250)/2))/((1.25-1.75)/((1.25+1.75)/2))=0.54
The demand is inelastic, that means that the porcentage in the increase in quantity is minor than the percentage in the reduction of the price. So total revenues decrease.
Answer:
The government policy should have reduced beer consumption by 0.6 or 60%
Explanation:
Mid point formula calculates the ratio of mid point of change in demand and change in price to their average value. Then these changes are used in the calculations of elasticity of demand.
According to given data:
Elasticity of demand = 0.9
Midpoint of price = (20-10) / [(20+10)/2] = 10 / 15 = 0.6667
Elasticity of Demand = Midpoint of demand / Midpoint of price
0.9 = Midpoint of demand / 0.6667
Midpoint of price = 0.9 x 0.6667 = 0.6
Change in demand is should reduce the consumption by 0.6 or 60%.
Increase capital markets for example profit market
<span>What is authenticity in the often-used framework of quality criteria? This framework is made up of credibility, dependability, confirmability, transferability and authenticity. Authenticity shows how researchers family and faithfully show different reality possibilities. Authenticity will show in how participants act, feel and speak and what is depicted of them. </span>
