I need help I have no idea how to do this

The main determinant of elasticity of supply is the: A. number of close substitutes for the product available to consumers. B. a

AlexFokin [52]

Answer:

B. amount of time the producer has to adjust inputs in response to a price change.

Explanation:

When talking about elasticity of supply, we are refering to the sensibility of quantity produced when price changes.
If price increases, producers have an incentive to increase the quantity they offer. This will be conditioned by the productive process they face.
If it is relatively easy to increase output when facing an increase in prices elasticity of supply would be relatevely high.
If it is relatively difficult or slow to increase output (think about real assets for example, their production takes more time than produceing candies), facing an increase in prices would not inmediately increase offered quantities. In this case elasticity of supply would be relatively low.
Then, the amount of time represents a crucial aspect when thinking about how supply can change when prices changes, conditioning the value of elasticity of supply.

8 0

4 years ago

19. Fortuna Co. reports the following in its 2016 annual report: 2016 2015 2014 Sales $10,597,336 $10,265,536 $9,893,432 Account

kaheart [24]

Answer:

For Fortuna Co.

Account receivables turnover ratio = net credit sales during the year / average accounts receivable

2015 = $10,265,536 / [($1,052,112 + $1,141,906)/2] = 9.358
2016 = $10,597,336 / [($900,516 + $1,052,112)/2] = 10.854

Average collection period = 365 days / accounts receivables turnover ratio

2015 = 365 days / 9.358 = 39 days
2016 = 365 days / 10.854 = 33.63 days

Since the accounts receivable turnover ratio is higher for 2016, the average collection period will be shorter. This means that the company is collecting its outstanding credit faster in 2016 than 2015.

For Saturn, Inc.

Prepare general journal entries for the following transactions that occurred during the year:

(1) Wrote off N. Purcell’s account, $6,800.

Dr Allowance for doubtful accounts 6,800
Cr Accounts receivables 6,800

(2) Wrote off J. Stein’s account, $2,400.

Dr Allowance for doubtful accounts 2,400
Cr Accounts receivables 2,400

(3) J. Stein, who is in bankruptcy, paid $800 in final settlement of the account written off in transaction

first you must reverse the write off

Dr Accounts receivables 800
Cr Bad debt expense 800

now you record the collection of the settlement amount

Dr Cash 800
Cr Accounts receivables 800

(4) On December 31, estimated the year’s bad debts expense at 1% of credit sales.

balance for allowance for doubtful accounts = $8,000 - $6,800 - $2,400 = -$1,200 or $1,200 debit balance

total credit sales $1,200,000 x 1% (estimated bad debt) = $12,000 credit balance for allowance for doubtful accounts

the journal entry to record bad debt expense:

Dr Bad debt expense 13,200
Cr Allowance for doubtful accounts 13,200

5 0

3 years ago

Assume that you are a consultant to Broske Inc., and you have been provided with the following data: D1 = $0.67; P0 = $45.00; an

polet [3.4K]

Answer:

9.48%

Explanation:

Data provided:

D₁ = $ 0.67

P₀ = $ 45.00

growth rate, g = 8%

Now,

the cost of the equity is given as:

Cost of the equity = (D₁ / P₀) + g

thus, on substituting the respective values, we get

Cost of the equity = (0.67 / 45) + 0.08

or

Cost of the equity = 0.0148 + 0.08

or

Cost of the equity = 0.0948

or

Cost of the equity = 0.0948 × 100% = 9.48%

6 0

3 years ago

Prices enable a market economy to adjust to unexpected events bya.maintaining consumption and production at stable levels.b.gove

baherus [9]

Prices enable a market economy to adjust to unexpected events by adjusting consumption and production.

Option: D

Explanation:

The Government commands significant aspects of economic activity in a centrally planned economy. The government determines the factors of production and owns the enterprises which produce public goods and services. The government is pricing and manufacturing products and services which it believes help individuals. The unexpected events may be like the ongoing corona-virus pandemic, during this phase of economy the states are regulated by adjusting the production and consumption in market, either by decreasing the price of some commodities or by maintaining supply in market.

3 0

3 years ago

Miller Mining acquired rights to a tract of land with the intent of extracting from the land a valuable mineral. The cost of the

ziro4ka [17]

Answer:

depletion expense recognize over the first year: 400,000 dollars

Explanation:

it cost 2,500,000 the right to extract 10,000 tons

To obtain therate we divide the cost over the expected tons of materials

rate per ton: 2,500,000 / 10,000 = 250 dollars

Now we calculate the depletion based on the amount extracted on the first year:

first year extractions: 1,600 tons

depletion expense: 1,600 tons x 250 dollars = 400,000

4 0

4 years ago