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iren2701 [21]
3 years ago
8

A customer, who needs to drive to work in a Wisconsin winter, has a critical need to use the product Ice Melt. For him as a cons

umer Ice Melt has an inelastic demand because he needs to drive to work. Which type of factor is affecting elasticity in this scenario?
Business
1 answer:
Blizzard [7]3 years ago
5 0

Answer:

Urgency / Postponement leads to customer inelastic demand of ice melt.

Explanation:

Elasticity of demand is responsive change in demand of good, due to change in price. Formula = % change in demand / % change in price

Factors Affecting Price Elasticity of Demand : Nature of commodity, Income, substitutes availability, time period, urgency / postponement, share in total expenditure,

Inelastic Demand is when demand responds proportionately less to price change. % change in demand < % change in price

Case 'Customer critically needs ice melt to drive to work' : This has inelastic demand i.e demand less respondent to price changes (he will buy that at high price too). Such because of the urgency of this demand & less scope of its postponement.

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Development associates (da) agrees to buy five acres of land from eastside properties for $15,000. eastside fails to go through
Nana76 [90]
$2,000 is the amount of money that the Development associates may recover. When the Eastside fails to go through with the deal on the agreed date, when the market price of the land is $17,000 then the price of the land on the agreed date is only $15,000. So the DA may recover the $2,000.
8 0
3 years ago
For each item listed below, indicate the allocation terminology for the item. Use the following terms for your answer:
nexus9112 [7]

For each item listed the allocation terminology for the items are as follows:

Amortization: Copyrights, Patents, Trademarks and Annual licensing fees.

Depreciation:  Buildings, Equipment and Land Improvements.

Depletion: None.

None of these: Land, Research and Development Costs and Franchises.

<u>Explanation:</u>

Throughout accounting, amortization applies to multiple-period distribution of revenues. The concept is used for two isolated processes: loan amortization and asset amortization. Depreciation is the reduction in asset value and the process used to redeploy or "write down" a tangible asset's expense (like equipment) over its expected life period.

Depletion is a term of accounting and taxation generally used in coal, forestry, petroleum, or other related industries. Depletion is identical to depreciation in that it is an accounting and tax tracking system for cost recovery.

8 0
3 years ago
The primary drawback of the edison talking machine for sound recording was:
Nataliya [291]
Only one recording of a given sound could be made; copies were not possible. 
Hope this helps! :)

4 0
3 years ago
A manager checked production records and found that a worker produced 160 units while working 40 hours. In the previous week, th
Murrr4er [49]

Answer:

(A) Current period productivity= 4 units/hr

Previous period productivity= 3.833units/hr

(B) increase in productivity by 4.356 percent

Explanation:

A manager checkedthe rate of production and found out that a worker produced 160 units while working for 40 hours

In the previous week the same worker produced 138 units while working for 36 hours

(A) The current period productivity can be calculated as follows

= 160 units/40 hours

= 4 units/hr

The previous period productivity can be calculated as follows

= 138 units / 36 hours

= 3.833 units/hr

(B) The productivity growth can be calculated as follows

= current period productivity - previous period productivity / previous period productivity

= 4-3.833/3.833

= 0.167/3.833

= 0.04356 × 100

= 4.356 percent

Hence there was an increase in workers productivity by 4.356 percent

5 0
2 years ago
Bold Stapler Sales Company (BSS) began 2019 with cash of $80,000, inventory of $7,200 (400 staplers that cost $18 each), $2,000
viva [34]

Answer:

Bold Stapler Sales Company (BSS)

                                     FIFO             LIFO           Weighted Average

Ending inventory       $4,500         $3,240                 $4,122

Cost of goods sold $96,300      $97,560              $96,678

Explanation:

a) Data and Calculations:

Beginning balances in 2019:

Cash $80,000

Inventory $7,200

Common stock $2,000

Retained earnings $2,000

Description                    Units   Unit Cost   Total

Beginning inventory        400      $18      $7,200

The first purchase        1,600      $21       33,600

The second purchase 2,400     $25       60,000

Goods available           4,400               $100,800

Sales of units              (4,220)    $45   $189,900

Ending inventory             180

FIFO:

Ending inventory = $4,500 ($25 * 180)

Cost of goods sold = $96,300 ($100,800 - $4,500)

LIFO:

Ending inventory = $3,240 ($18 * 180)

Cost of goods sold = $97,560 ($100,800 - $3,240)

Weighted Average:

Weighted average cost per unit = $22.91 ($100,800/4,400)

Ending inventory = $4,122 (22.91 * 180)

Cost of goods sold = $96,678 ($100,800 - $4,122)

8 0
2 years ago
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