As the buyer paid the amount within the discount period. so the total amount paid by the buyer is, Discount = $ 156.
What is amount?
Amount or quantity is a property that really can occur as a multitude as well as magnitude, demonstrating discontinuity and continuity. Quantities can be compared by using the terms "more," "less," or "equal," or by assigning a numerical multiple of a measurement unit. Quantitative properties include mass, time, distance, heat, and angle, to name a few. Quantity, along with reliability, substance, start changing, and relation, is one of the fundamental classes of things. Some quantities have an inner nature (as numbers), whereas others function as states (properties, measurements, attributes) of things like heavy and light, long and brief, broad and narrow, small and excellent, or much and little.
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kelly is in the process of buying a house. the seller has performed some of the required duties by the required date, but not all of them. can kelly discharge the contract?
Yes; kelly can discharge the contract because partial performance is a valid reason for a party to discharge the contract.
Contract
A contract is a legally binding agreement that establishes, defines, and governs the mutual rights and obligations of its parties. A contract usually involves the exchange of products, services, or money, or the promise to exchange any of these at a later period. If a contract is breached, the damaged party may seek court remedies such as damages or rescission. Contract law, or the law of obligations relating to contracts, is founded on the concept that agreements must be honoured. Contract law, like other aspects of private law, differs from country to jurisdiction.
A contract can be discharged by performance, which is the most common type of contract discharge. A contract will be discharged if the parties satisfy their contractual obligations. If only one participant in a contract fulfils the specified promise, he is dismissed.
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Grandma’s bakery wants to begin selling gluten-free products and vegan products. The c-suite executives have made the decision and are now wanting the change implemented. Whose planning will move this from the decision level into production?.
The planning of functional managers will move this from the decision level into production.
A functional Manager is a person who has the authority to administer an organizational unit such as a company, department within a company, or other organization.
Functional Manager means a business unit that directly oversees one or more Project/Program Team Resources and/or has direct responsibility for the functionality affected by or impacted by a Project/Program Delivery Item. /A person with administrative rights in a department. ).
Functional Manager are responsible for specific business units or areas. B. Finance or Sales. Here's an example of a feature manager: Customer service manager. sales manager.
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____________ is a way to turn a company into a parent company with smaller retail outlets owned by independent operators.
A.
Manufacturing
B.
Incorporating
C.
Taxing
D.
Franchising
Answer:a
Explanation:
just took the test bro
WHAT DOES IT MEAN TO UNDERWRITE A SHARE ISSUE? ❓
Explanation:
WHAT DOES IT MEAN TO UNDERWRITE A SHARE ISSUE? ❓
do u use zoo
sunny skys, inc. bought a derelict hunting lodge, which it tore down at a cost of $45,000 and replaced with a new lodge. the demolition cost should be
Sunny skys, inc. bought a derelict hunting lodge, which it tore down at a cost of $45,000 and replaced with a new lodge. The demolition cost should be capitalized
What is Capitalization of demolition cost ?The costs of demolition are not included in the price of the new asset because they are a cost of utilising the previous asset.
The price of tearing down an existing structure in order to make room for a new one is to be considered a capital expense.Buildings purchased through construction should have their initial cost capitalised. Major expenses such as the ones listed below are capitalised as part of the cost of buildings: Building new structures costs, including materials, labour, and overhead. the price of clearing land in order to build.Learn more about Capitalization here:
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griffin service company, incorporated, was organized by bennett griffin and five other investors (that is, six in total). the following activities occurred during the year: received $90,000 cash from the six investors; each investor was issued 10,400 shares of common stock with a par value of $0.20 per share. signed a five-year lease for $180,000 for the right to use a building each year. purchased equipment for use in the business at a cost of $38,000; one-fourth was paid in cash and the company signed a note for the balance (due in six months). signed an agreement with a cleaning service to pay $320 per week for cl
The recording of the transactions in the T-accounts for the Griffin Service Company Incorporated is given below.
Cash Account
Account Titles Debit Credit
Common stock $12,480
Equipment $9,500
Additional Paid-in Capital $77,520
Common Stock $600
Additional Paid-in Capital $4,400
Note Receivable $4,500
Common Stock
Account Titles Debit Credit
Cash $12,480
Cash $600
Additional Paid-in Capital
Account Titles Debit Credit
Cash $77,520
Cash $4,400
Lease Assets
Account Titles Debit Credit
Lease Liability $180,000
Lease Liability
Account Titles Debit Credit
Lease Assets $180,000
Equipment
Account Titles Debit Credit
Cash $9,500
Note Payable $28,500
Note Payable
Account Titles Debit Credit
Equipment $28,500
Land
Account Titles Debit Credit
Additional Paid-in Capital $35,00
Note Receivable
Account Titles Debit Credit
Cash $4,500
Hence, T-accounts is an accounting term which is usee to describe the ledger accounts.
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better deals, inc. has 6 units in inventory on december 31. the units were purchased in november for $155 each. the price lists from the suppliers indicate that the same items would now cost the company a total of $960. what would be the amount reported as ending merchandise inventory on the balance sheet?
The amount reported as ending Merchandise Inventory on the balance sheet will be $930
Merchandise inventory is the cost of finished goods that a retailer or wholesaler has currently to sell to its customers during an accounting period. For a bookstore, merchandise inventory would contain the cost of the books or magazines it had for sale.
Elaborate:On nov. the units were purchased at $155
The replacement cost is $960
So,Merchandise inventory on balance sheet:
155 × 6= $ 930
Why is merchandise inventory credited?The merchandise inventory account is credited for the amount that the retailer paid for the inventory and the cost of goods sold account is debited for the same . Actually , all merchandise is capitalized when it is bought and recorded on the balance sheet as a current asset.
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a system for finding, organizing, and making available an organization’s experience, understanding, expertise, judgment, and lessons learned is called
Knowledge management is a system for finding, organizing experience of an organization.
An organization's knowledge and information are created, shared, used, and managed using a variety of techniques known as knowledge management (KM). It alludes to a multidisciplinary strategy that makes the best use of information to accomplish organizational goals. Common organizational goals for knowledge management initiatives include performance benefits, competitive edge, creativity, the exchange of learning lessons, integration, and on-going organizational improvement. These initiatives overlap with organizational learning, but can be distinguished from it by a stronger emphasis on knowledge management as a strategic asset and on promoting knowledge exchange. KM makes organizational learning possible.
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Corrie bought a new flat screen 70 inch television and a speaker system from a local electronics store on credit. The store will charge 12% per year compounded monthly. Their monthly payments are $174. 80 for 3 years. What is the cash price of her purchase?.
The cash price is the present value of an annuity and therefore it is equal to $5262.79.
The formula of the present value of an annuity is:
PV = C . [1 - (1+i)⁻ⁿ] / i
Where:
C = cash flow per period
i = interest rate per period
n = number of periods
Parameters from the problem:
C = $174. 80
Annual interest is 12%. Since it is compounded monthly, we need to find the monthly interest.
i = monthly interest = 0.12/12 = 0.01
Since the payment is 3 years, then the number of periods is:
n = 12 month x 3 years = 36
Plug these parameters into the present value formula:
PV = 174.8 × [1 - (1.01i)⁻³⁶] / 0.01
PV = 5262.79
Thus, the cash price is $5262.79
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who would pay the most as a percentage of income under a regressive tax? (1 point) group of answer choices lawyer earning $110,000 per year teacher earning $45,000 per year ceo earning $2.5 million per year roofer earning $18,000 per year
Roofer earning $18,000 per year would pay the most as a percentage of income under a regressive tax. A regressive tax is one that is applied uniformly.
A regressive tax is one in which the mean tax burden decreases as income increases. Low-income taxpayers bear a disproportionally large share of the tax burden, while middle- and upper-income taxpayers bear only a minor portion. A regressive tax is one that is applied uniformly, taking a higher percentage of income from poorer people than from high-income earners.
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What is one major advantage of creating a division of labor in a business?
A. Employees have fewer opportunity costs for switching careers.
B. Employees have fewer reasons to conduct voluntary exchange.
C. Employees are encouraged to become more self-sufficient.
D. Employees do not need to spend time learning multiple jobs.
It’s D, Employees do not need to spend time learning multiple jobs (Apex)
One significant benefit of establishing a division of labor in a business is that employees do not need to invest time in learning multiple tasks.
The division of a work process into several tasks, each of which is carried out by a different person or group of people. Division of labor is one of the fundamental organizing principles of the assembly line and is most frequently used in systems of mass production. employees do not need to invest time in learning multiple tasks. The division of labor was first noted in modern literature by Sir William Petty, who demonstrated its existence and utility in Dutch shipyards. In the past, employees in a shipyard would construct ships in sections, finishing one before beginning another.
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the following is a december 31, 2021, post-closing trial balance for the jackson corporation. account title debits credits cash $ 44,000 accounts receivable 38,000 inventory 79,000 prepaid rent (for the next 8 months) 20,000 investment in equity securities (short term) 14,000 machinery 165,000 accumulated depreciation $ 15,000 patent (net) 83,000 accounts payable 10,000 salaries payable 6,000 income taxes payable 36,000 bonds payable (due in 10 years) 180,000 common stock 140,000 retained earnings 56,000 totals $ 443,000 $ 443,000 required: prepare a classified balance sheet for jackson corporation at december 31, 2021, by properly classifying each of the accounts. (amounts to be deducted should be indicated by a minus sign.)
The preparation of a classified Balance Sheet for Jackson Corporation at December 31, 2021, is as follows:
Jackson Corporation
Classified Balance SheetDecember 31, 2021
Assets
Current Assets:Cash $ 44,000
Accounts receivable 38,000
Inventory 79,000
Prepaid rent
(for the next 8 months) 20,000
Investment in equity securities
(short-term) 14,000 $195,000
Long-term Assets:Machinery $165,000
Accumulated depreciation (15,000)
Patent (net) 83,000 $233,000
Total Assets $428,000
Liabilities and Equity
Current Liabilities:Accounts payable $10,000
Salaries payable 6,000
Income taxes payable 36,000
Total current Liabilities $52,000
Long-term Liabilities:
Bonds payable (due in 10 years) $180,000
Total liabilities $232,000
Equity:Common stock $140,000
Retained earnings 56,000 $196,000
Total liabilities and equity $428,000
What is a classified balance sheet?A classified balance sheet is a statement of the financial position of an entity at a point in time, with assets classified according to their short and long-term natures.
The equity is also indicated separately with common stock and retained earnings.
Jackson Corporation
Post-closing Trial BalanceDecember 31, 2021
Account Titles Debits Credits
Cash $ 44,000
Accounts receivable 38,000
Inventory 79,000
Prepaid rent
(for the next 8 months) 20,000
Investment in equity
securities (short term) 14,000
Machinery 165,000
Accumulated depreciation $ 15,000
Patent (net) 83,000
Accounts payable 10,000
Salaries payable 6,000
Income taxes payable 36,000
Bonds payable (due in 10 years) 180,000
Common stock 140,000
Retained earnings 56,000
Totals $ 443,000 $ 443,000
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stor-away co. needs to buy a new forklift. the company decides to deposit $2,300 in an account that earns 6% per year compounded semiannually. how much will the investment be worth in 4 years?
The investment will be worth 2490.57 dollars in 4 years when interest is compounded semiannually.
Compounding interest semiannually means that at the start of the compounding period, in this case, every six months, the principal of a loan or investment includes the total interest from the previous period.
Compound interest is calculated by multiplying the initial loan amount, or principal, by one plus the annual interest rate multiplied by the number of compound periods multiplied by one. This will give you the total amount of the loan plus compound interest.
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What is the amount of interest revenue that must be accrued on december 31st for a nine-month, 6%, $2,000 note receivable that was accepted on november 1st?.
The amount of interest revenue that must accrue on December 31st on notes receivable is $20
rate of interest = 6%
Amount of note receivable = $2,000
Months taken for calculation (November& December) = 2
Interest revenue = 2000*2/12*6/100 = $20
Notes receivable documents the worth of promissory notes due and owing to a business and due to be compensated. A written promissory note automatically entitles the keeper, or bearer, to the amount stated in the legally binding agreement. Promissory notes are authored commitments to compensate another party cash before or on a date in the future.
If the note receivable seems to be due within a calendar year, it is included on the balance sheet as a liquid asset. If it is not due until more than a calendar year from now, it is categorized as a non-current item on the balance sheet.
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according to the view, international production should be distributed among countries according to the theory of comparative advantage. multiple choice radical conservative pragmatic nationalist free market
The free market is distributed among countries according to the theory of comparative advantage.
In economics, a free marketplace is an idealized cognitive version of an economic system wherein the charges of products and offerings are determined by means of supply and demand expressed with the aid of sellers and shoppers.
Such markets, as modeled, operate without the intervention of the presidency or every other outside authority.
Proponents of the unfastened marketplace as a normative perfect evaluation it with a regulated market, wherein a central authority intervenes in delivery and demand by using various methods such as taxes or guidelines. In an idealized free marketplace economy, fees for goods and services are set entirely by way of the bids and gives of the contributors.
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yummy yogurt has developed a new flavor of yogurt that its research has determined is becoming very popular. the sales of the flavor are slow, but the company believes the market is growing rapidly. this product represents a
Yummy yogurt has developed a new flavor of yogurt that its research has determined is becoming very popular. the sales of the flavor are slow, but the company believes the market is growing rapidly. This product represents a trend forecasting product.
What is trend forecasting?Trend forecasting is the practice of conducting research and developing predictions about consumers' upcoming purchasing patterns. Forecasters are able to give designers and companies a "view" of the future by locating the origin, following the evolution, and seeing patterns in trends. Future consumer behavior is examined by forecasters to see how social, cultural, ethical, and environmental trends will likely impact it. They can determine what goods and services people will be wanting to purchase through this approach.
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the mandella family decided early in 2020 to incorporate their family owned vineyards under the name mandella corporation. the corporation was authorized to issue 500,000 shares of a single class of $10 par value capital stock. presented as follows is the information necessary to prepare the stockholders’ equity section of the company’s balance sheet at the end of 2020 and at the end of 2021.
A company's capital stock is not an asset. It is part of the equity section of the balance sheet. When one company owns stock in another, the stock is recorded as an asset.
What exactly is Capital Stock?The common and preferred shares that a company is authorized to issue under its corporate charter are referred to as capital stock. A corporate charter is a legal document that specifies the maximum number of shares that a company may issue.
It is calculated by multiplying the number of issued shares by the share's par value.
Investors buy capital stock because they believe the company's market share and revenue will increase, resulting in dividend payments to the investors.
A dividend is a payment made to shareholders at the end of a fiscal year.
If a company has preferred stock, it is listed first in the stockholders' equity section due to its preference in dividends and liquidation. Based on financial reporting amounts, book value is the value of one share of common stock.
Hence, capital stock is not a company's asset.
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Sean just bought new headphones for $50. Later that day, sean sees a friend who said they got the same headphones for $30. Sean assumes that these cheaper headphones must be knockoffs. Which logical fallacy is sean suffering from in this example?.
In this case where Sean bought new headphones for $50 and sees a friend who got the the same at lesser price which makes him assumes that these cheaper headphones must be knockoffs, the logical fallacy that he is suffering in this example is known as anchoring.
What is an anchoring bias?Basically, an anchoring bias refers to a faulty heuristic that occurs when someone focus on one piece of information when making a decision or solving a problem. Often time, such people make an inaccurate final estimates due to inaccurate adjustments from an initial value.
In essence, it mainly happens when we rely too much on pre-existing or first information they find when making decisions.
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any reimbursement a taxpayer receives from a medical or accident insurance policy for medical expenses paid by the taxpayer during the current year are (taxable/nontaxable) for the taxpayer
Any reimbursement a taxpayer receives from a health or accident insurance policy for medical costs they paid for in the current year is exempt from taxation.
A taxpayer is a person or a company that must pay taxes to the federal, state, or municipal governments. Governments mostly derive their income from taxes on both citizens and businesses. Individual taxpayers must typically file and pay both federal and state tax returns each year in the US. While companies must also submit yearly returns, they typically budget for and make recurring anticipated tax payments throughout the year.
To assess their filing requirements for a specific year, individual taxpayers should check both the federal and state criteria. Individual taxpayers can find federal tax advice in the Internal Revenue Service's publication 501: Dependents, Standard Deduction, and Filing Information.
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suppose that real money demand is $1trillion (2020 dollars), and that the nominal money supply in 2030 is $5 trillion. according to the quantity theory of money, what will be the 2030 price level (2020
When a unit of money's buying power declines, more units of currency are needed to purchase the same amount of goods or services.
What Exactly Is the Money Quantity Theory?
The quantity theory of money (QTM) also holds that an economy's level of economic activity is significantly influenced by the amount of money present in that economy. Therefore, a change in the money supply affects either the supply of goods and services or the price levels, or both. The hypothesis also presupposes that shifts in the money supply are the main driver of changes in spending.
These suppositions have the connotation that the amount of money present in an economy determines the value of money. Because a rise in the money supply also leads in an increase in the rate of inflation, this creates a fall in the value of money. Purchasing power declines as inflation increases. The worth of a currency represented in terms of the quantity of products or services that one unit of currency can purchase is known as purchasing power.
(M)(V)=(P)(T)
where M is the Money Supply
V is the velocity of circulation, or the frequency with which money is transferred.
Average Price Level is P.
T stands for the volume of products and services exchanged.
=500
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two firms, gene's gloves and wally's wallets, have factories near a lake. both firms use a chemical for tanning leather. some of this chemical runs into the lake. each year gene's gloves dumps 15,000 gallons of the chemical and wally's wallets dumps 25,000 gallons of the chemical into the lake. a new study has found that fish and other wildlife are negatively impacted by this chemical. the government has decided to cap the total combined amount of the chemical that the factories can dump into the river at 10,000 gallons/year. for an additional $1/gallon, wally's wallets is able to substitute each gallon of harmful chemical for one gallon of a harmless alternative. gene's gloves needs to use the harmful but more effective chemical to produce gloves. it costs $3/gallon to dispose of the harmful chemical safely. assume that gene's gloves and wally's wallets maintain the same level of production under the new environmental restrictions.
Dumping expenses are those that a business pays to dispose of manufacturing wastes in waterways. For the purpose of pouring chemicals into the lake, Gene's Gloves will invest $15,000 and Wally's Wallets will spend $45,000.
We may determine the expense of dumping chemicals for both businesses by applying the numbers provided in the material. Cost of further dumping for Gene's Gloves exceeding 5000 gallons at a rate of $1 per gallon. The cost of the extra 10,000 gallons is $10000.
Additional dumping for Wally's Wallets will cost $60,000 for 20000 gallons at a rate of $3. The government has provided the opportunity to sell the dumping rights, so if Gene's Gloves sells its 5000 gallon rights to Wally's, the cost of dumping for Wally's Wallets will be reduced by $15,000, for a total savings of $45,000. Additionally, the price of dumping for it will rise if the costs are sold to Wally's Wallets.
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tailoring media content to specific audiences that possess characteristics of interest to specific advertisers is a strategy known as synergy. narrowcasting or niche marketing. subgroup marketing. message concentration.
Narrowcasting, often known as niche marketing, is a method that involves tailoring media material to particular audiences with qualities that interest particular advertisers.
What does a marketing narrowcasting entail?
The targeted segmentation of media distribution is referred to as narrowcasting. It entails directing media messages at particular public segments identified by values, preferences, or demographic characteristics.
What does consumer behavior narrowcasting entail?
Narrowcasting, which is similar to niche marketing or target marketing, includes directing media messages at particular public segments identified by values, preferences, demographic characteristics, and/or subscription. The postmodern notion that there are no mass audiences is the foundation of narrowcasting.
You can narrowcast your message so that it is tailored to a particular audience. Because you are communicating with people who may already be familiar with your brand or be interested in your services, you don't need to be as cryptic in your advertising.
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amul food factory in india makes ice cream and produces processed and condensed milk. in the factory, the firm's employees use raw milk and sugar. the firm runs on electricity and purchases raw milk every day. large robotic assembly lines fill and package the ice cream containers. large industrial freezers store the ice cream. based on this scenario, can you identify the fixed costs for amul food factory?
The fixed cost is the cost of constructing the factory, as well as the purchase of robotic assembly lines and industrial freezers.
In layman's terms, a fixed cost is an expenditure that does not change due to an increase or decrease in the quantity of products or services produced or distributed. Fixed costs are bills that are typically incurred by a corporation regardless of market operation. For eg, the cost of constructing the factory.
Fixed expenditures can be direct or indirect expenditures that affect revenue at different points through out financial statements.
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question content area prior to adjustment on august 31, salary expense has a debit balance of $334,450. salaries owed but not paid as of the same date total $2,430. journalize the entries to record the following:
Answer: Please see below for the answer
Explanation:
Entry for accrued salaries
Date August, 31
ACCOUNT TITLE DEBIT CREDIT
Salary expense $ 3,760
Salaries payable $3,760
Entry for Closing salary Expense
Date: August, 31
ACCOUNT TITLE DEBIT CREDIT
Income summary (258,370+3,760) $262,030
Salaries expense $262,030
Hannah's Pool Service Company Statement of Owner’s Equity For the Year Ended December 31
Hannah Roberts Capital Jan, 1st $303,110
Investments during the year $20,810
Net income (add) $58,430
Withdrawals during the year(subtract)$39,530
Owners equity $39,710
Capital for December 31st $342,820
*Capital for December 31st is capital on January 1st plus owner's equity.
buying materials and components from suppliers instead of making them in your company-owned operations, is known as? buying materials and components from suppliers instead of making them in your company-owned operations, is known as? insourcing offshoring outsourcing selective sourcing
Based on the fact that the materials and components are being bought from suppliers instead of being made, this is called Outsourcing.
What is outsourcing?Outsourcing to the practice of engaging the services of another company to make certain goods and services instead of you. When that company then finishes the production of those goods or services, you then take it as your own.
Outsourcing can therefore be used to describe a situation where materials and components are not made by a company, but instead are purchased from another company that makes them and then used.
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I need help with my business assignment
It's about me owning a business, my business is on pharmacy.
I need to talk about how my business can affect on start-up businesses, Local factors impact my business
Conclusion to add more details
I need at least 1 paragraph each.
Thanks!
Explanation:
Well if your business is growing It will definitely cause lose to startup businesses as workers need a high paid job. If you can pay your employees more it will cause damage to the successful companies because they need workers. Then if you have a good reputation in your area it will definitely be helpful. More people will recommend your pharmacy and if your pharmacy is on a accessable place, close to populated areas or colonies. People will find easy to come to your pharmacy, who live near it as prices of petroleum are increasing.
Hope this helps I tried my best, I don't own a business but this is my idea
if discouraged workers are included in the determination of the unemployment rate, what effect will it have on the computed rate? group of answer choices there is no relationship between discouraged workers and the unemployment rate determination. there will be no impact. it will raise it because there are always discouraged workers. it will lower it because it will reduce the number of unemployed.
If discouraged workers are included in the determination of the unemployment rate, there will be no impact.
Who are discouraged workers?Discouraged workers are workers who after searching unsuccessfully for employment stop actively searching for work. Discouraged workers are not considered to be unemployed or part of the labour force.
Unemployment rate is the ratio of those who are unemployed to the total labor force. If discouraged workers are included in the unemployment rate, both the number of unemployed workers are the labor force would increase by the same amount. Thus, there would be no change in the unemployment rate.
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Answer:
It will raise it because there are always discouraged worker.
Explanation:
Okay so, if you add more people to a certain group of people, doesn’t the overall percentage increase? Like take 8 unemployed but actively searching for work people which make up umm… 3 percent but then you add 3 discouraged workers that are not looking for work, the percent will increase.
The other answers would be wrong because…
1) Even if there is no relationship between discouraged workers and the unemployment rate in real life, in this situation there is because you are including one in the other.
2) if you add more people to the unemployment rate, you are not lowering the rate…
also, just answered this question and got it right so I’m answering it on here but you do you if you don’t think I have the right answer.
it has just been reported that eating red meat is bad for your health. using supply and demand curves, demonstrate the report's likely effect on the equilibrium price and quantity of steak sold in the market.
In the market for steak, equilibrium price will fall, and equilibrium quantity will fall.
The equilibrium quantity of a good is that which corresponds to the point where the supply and demand curves intersect in the market, at a given price. Therefore, we can say that it is the quantity that producers are willing to sell, and consumers are willing to buy. All this at a price that allows both parties to agree. This, in turn, is the equilibrium price of a perfectly competitive market. In this theoretical situation there is no shortage or excess in the market.
In it, there is a supply curve (O) and a demand curve (D). For simplicity, we use the equation of the line. Both represent all producers and consumers. Therefore, they are the production and consumption preferences of a type of good.
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redirecting a client’s attention to service projects so they are less focused on their own problems is an example of the technique frankl developed.
The practice of redirecting a client’s attention to service projects so they are less focused on their own problems is an example of the Dereflection technique Frankl developed.
What is a Dereflection?In psychology, a dereflection refers to the logotherapeutic technique of directing the person’s attention away from the problem and towards something important to the person. Most often, it raises the question that includes if we turn the person’s attention away from the problem are we not minimizing the person’s suffering? and Where does empathy come into it?.
Therefore, the Dereflection technique is developed by Frankl and it is practice of redirecting a client’s attention to service projects so they are less focused on their own problems.
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If a 10% increase in price leads to a 40% decrease in quantity demanded, what is the value of price elasticity of demand? Show your work.
Which of the following will cause the demand for a good or service inelastic?
Having few substitutes
A longer time period
Being a luxury
Being a large share of the consumer's budget
If the price elasticity of demand is equal to 0.5, is demand elastic, inelastic, or unitary elastic?
Will a perfectly elastic supply curve be vertical, horizontal, or upward-sloping?
What price elasticity of supply will lead to a smaller increase in quantity when price changes— elastic, inelastic, or unitary elastic?
The Price elasticity answers are:
The value of price elasticity of demand is equal to four if a 10% rise in price results in a 40% reduction in the amount that is desired. "Being a substantial percentage of the consumer's budget" is the reason why there is an inelasticity in the demand for a certain commodity or service. alternative D Is demand considered "inelastic" if the price elasticity of demand is equal to 0.5? The supply curve for a completely elastic economy is horizontal. The price elasticity of supply is inelastic, which means that a rise in price will result in a less significant increase in quantity.How to determine the elasticity of demand with respect to priceThe price elasticity of demand is equal to the percent change in demand divided by the percent change in price.
x= [tex]\frac{40 \%}{ 10 \%}[/tex]
x=\frac{ 0.4}{ 0.1}
x= 4
A scenario is said to have inelastic demand when there is no proportionate change in the demand for products and services among customers in response to a change in the price of such goods and services.
The supply curve that is horizontally aligned with the demand curve represents a completely elastic supply curve.
In conclusion, the degree to which demand is sensitive to a change in price may be measured by looking at something called the price elasticity of demand.
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