Answer:
The correct answer is the option (C).
Explanation:
According to Timothy Walters, if price increases by $1 from $6 to $7 then quantity demanded will reduce from 1,200 units to 900 units.
This will lead to decrease in total revenue from (1,200 * $6) $7,200 to (900 * $7) $6,300.
According to Jack Mayers, if price increases by $1 from $6 to $7 then quantity demanded will reduce from 1,200 units to 950 units.
This will lead to decrease in total revenue from (1,200 * $6) $7,200 to (950 * $7) $6,650.
It can be seen that with increase in price, total revenue is decreasing in both cases. This happens when demand is elastic.
So,
Timothy and Jack will most likely to agree that the demand for good A is elastic.
Hence, the correct answer is the option (C).
Answer:
a. Dr Cash
Cr Capital
b. Dr Cash
Cr Rent
c. Dr Office supplies
Cr Accounts Payable
d. Dr Cash
Cr Accounts Receiveble
e. Dr Cash
Cr Accounts Receiveble
f. Dr Accounts Receiveble
Cr Services
g. Dr Cash
Cr Accounts Receiveble
Explanation:
Based on the information given the account to be debited and the account to be credited in the general journal will be:
a. Dr Cash
Cr Capital
b. Dr Cash
Cr Rent
c. Dr Office supplies
Cr Accounts Payable
d. Dr Cash
Cr Accounts Receiveble
e. Dr Cash
Cr Accounts Receiveble
f. Dr Accounts Receiveble
Cr Services
g. Dr Cash
Cr Accounts Receiveble
The first step is to set objectives
Answer:
the break even point is $28,000.00
Explanation:
The computation of the break even point is given below:
= Total fixed expenses ÷ contribution margin ratio
= $9,800 ÷ (1 - 0.65)
= $9,800 ÷ 0.35
= $28,000.00
Hence, the break even point is $28,000.00
We simply applied the above formula
Answer is C Flexibility because that's the only thing that goes in the exercise category.
Explanation: I hoped that Helped!!
