Answer:
industrial goods.
Explanation:
Industrial goods are the goods that are purchased and used for the industrial and the business purpose. It would be made from machinery, manufacturing plants, raw materials, etc also these are depend upon the consumer goods that would help for generating the product
So as per the given situation the most global market would be for the industrial goods
Assume that Wal-Mart Stores, Inc. has decided to surface and maintain for 10 years a vacant lot next to one of its stores to serve as a parking lot for customers. Management is considering the following bids involving two different qualities of surfacing for a parking area of 12,000 square yards.
Bid A: A surface that costs $5.75 per square yard to install. This surface will have to be replaced at the end of 5 years. The annual maintenance cost on this surface is estimated at 25 cents per square yard for each year except the last year of its service. The replacement surface will be similar to the initial surface.
Bid B: A surface that costs $10.50 per square yard to install. This surface has a probable useful life of 10 years and will require annual maintenance in each year except the last year, at an estimated cost of 9 cents per square yard.
Required:
Prepare computations showing which bid should be accepted by Wal-Mart. You may assume that the cost of capital is 9%, that the annual maintenance expenditures are incurred at the end of each year, and that prices are not expected to change during the next 10 years.
Answer:
Bid A should be accepted
Explanation:
Bid A:
initial investment = $5.75 x 12,000 = -$69,000
cash flows years 1 - 4 = $0.25 x 12,000 = -$3,000
cash flow year 5 = -$69,000
cash flows years 6 - 9 = $0.25 x 12,000 = -$3,000
NPV using a 9% discount rate = -$129,881.21
Bid B:
initial investment = $10.50 x 12,000 = -$126,000
cash flows years 1 - 9 = $0.09 x 12,000 = -$1,080
NPV using a 9% discount rate = -$132,474.87
When do things move faster? Day or night?
day
Explanation:
bc its day time and your doing things lol
Answer:
At Night
Explanation:
At night the air becomes denser due too humidity. Humid air is denser than warmer air as in the day.
There is a goose that lays golden eggs, one each year, arriving at the end of the year. Each egg weighs one pound. The price of gold is currently $1,247 per ounce (16 ounces in a pound), and this is your best guess for the price going forward. You expect the goose to live 10 years (thus laying 10 eggs). How much is this goose worth today if the discount rate is 8%
Answer:
$133,880
Explanation:
Missing word "How much is this goose worth today?"
Each year 1 golden egg, we get which weighed at 1 pond
1 pound = 16 ounce
Therefore 1 golden egg = 16 ounce
Therefore 1 golden egg = 16 ounce * $1,246/ounce
Therefore 1 golden egg = $19,952
Therefore for 10 years discounted at 8%, the worth of the goose shall be
= Yearly cash flow * Sum of D.F.8%, 10 years
= $19,952 * 6.7101
= $133,880
So, the worth of the goose today is $133,880
13
Charlie is summoned for jury duty. While still in the selection process, it is discovered
Which of the following would most likely happen?
O Charlie would be excluded for cause.
Charlie would be preserved on the jury since he would have inside i
Charlie can refuse to serve on the jury.
Charlie would be excluded through preemptory challenge.
14
Casey is on trial under criminal allegations that she engaged in fraudulent behavior
nombioLUS Droof that Casey is guilty. Which of the follow
-בין ה
Hilola.
Answer:
13. Charlie would be excluded for cause;
14. the plaintiff provides proof only up to the level of “clear and convincing,” Casey can still be acquitted.
Explanation:
Since it was realised that Charlie has a relationship with on of the parties summoned for a case, this will lead to Charlie been removed and excluded for cause. This is because it is believed that due to the fact that he has a relationship with the person, there may be bias which may lead to a false outcome regarding the case.
For the second question, Cash can be acquitted if there's proof which is provided by the plaintiff and the proof is clear enough and convincing.
ABC Company listed the following data for the current year:
Budgeted factory overhead $1,044,000
Budgeted direct labor hours 69,600
Budgeted machine hours 24,000
Actual factory overhead 1,037,400
Actual labor hours 72,600
Actual machine hours 23,600
If overhead is applied based on machine hours, the overapplied/underapplied overhead is:
a. $15,300 overapplied.
b. $15,300 overapplied.
c. $10,800 underapplied.
d. $10,800 overapplied.
e. $-0-.
Answer:
$10,800 underapplied
Explanation:
Calculation for If overhead is applied based on machine hours, the overapplied/underapplied overhead is:
Overhead machine hours=[($1,044,000/24,000)×23,600]-1,037,400
Overhead machine hours=($43.50 x 23,600) - 1,037,400
Overhead machine hours=$1,026,600- 1,037,400
Overhead machine hours= $10,800 underapplied
Therefore If overhead is applied based on machine hours, the overapplied/underapplied overhead is:$10,800 underapplied
Manufacturing overhead was estimated to be $380,000 for the year along with 20,000 direct labor hours. Actual manufacturing overhead was $395,000, actual labor hours were 22,300. The predetermined overhead rate per direct labor hour would be:
Answer:
the predetermined overhead rate per direct labor hour would be $19
Explanation:
The computation of the predetermined overhead rate per direct labor is shown below:
Predetermined overhead rate per direct labor is
= (Estimated manufacturing overhead) ÷ (direct labor hour)
= ($380,000) ÷ ($20,000)
= $19
Hence, the predetermined overhead rate per direct labor hour would be $19
Water Technology, Inc. Incurred the following costs during 20xt. The company sold all f ts products manufactured during the year
Direct material $5,000,000
Direct labor 2,400,000
Manufacturing overheadr
Utilities (primarily electricity) 120,000
Depreciation on plant and equipment 220,000
Insurance 150,000
Supervisory salaries 400,000
Property taxes 230,000
Selling costs
Advertising 165,000
Sales commissions 80,000
Administrative costs
Salaries of top management and staft 372,000
Office supplies 45,000
Depreciation on building and equipment 80,000
During 20x1, the company operated at about half of its capacity, due better. Jared Lowes, the marketing manager, forecasts a 20 percent growth in sales over the 20xt level.
Required Categorize each of the costs listed below as to whether it is most likely variable or fixed. Forecast the 20x2 cost amount for each of the cost items listed
Answer:
Part 1
Variable Costs
Direct material $5,000,000
Direct labor $2,400,000
Fixed Costs
$
Utilities (primarily electricity) 120,000
Depreciation on plant and equipment 220,000
Insurance 150,000
Supervisory salaries 400,000
Property taxes 230,000
Salaries of top management and staff 372,000
Office supplies 45,000
Depreciation on building and equipment 80,000
Part 2
Forecast the 20x2 cost amount for each of the cost items listed
Direct material ($5,000,000 x 1.20) $6,000,000
Direct labor (2,400,000 x 1.20) $2,880,000
Utilities (primarily electricity) $120,000
Depreciation on plant and equipment $220,000
Insurance $150,000
Supervisory salaries $400,000
Property taxes $230,000
Salaries of top management and staff $372,000
Office supplies $45,000
Depreciation on building and equipment $80,000
Explanation:
Variable Costs vary with the level of production. Examples are Direct Materials and Direct labor.
Fixed Costs remain constant for any production level. Examples are Depreciation and Utilities such as electricity.
A growth in Sales will affect the Variable Costs only. As production increases to meet the 20 percent growth in sales so do these costs since they vary in direct proportion to the level of production.
In general, a capital-abundant country (such as the United States) tends to specialize in capital-intensive industry and export capital-intensive products, and import labor-intensive products. This statement is an illustration of the ____________________ of comparative advantage.
Answer:
Law
Explanation:
According to the law of comparative advantage, a country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries.
For example, country A produces 20kg of beans and 10kg of rice. Country B produces 10kg of beans and 20kg of rice.
for country A,
opportunity cost of producing beans = 10/20 = 0.5
opportunity cost of producing rice = 20/10 = 2
for country B,
opportunity cost of producing rice = 10/20 = 0.5
opportunity cost of producing beans = 20/10 = 2
Country A has a comparative advantage in the production of beans and country B has a comparative advantage in the production of rice
Q.1Alexander Company purchased a piece of equipment for $12,000 and depreciated it for three years over a five-year estimated life with an expected residual value at the end of five years of $2,000. At the end of the third year, Alex decided to upgrade to equipment with increased capacity and sold the original piece of equipment for $7,200. Calculate the gain or loss on the disposal at the end of the third year.
Answer:
gain of $3,200
Explanation:
The equipment cost $12,000.
The depreciable amount = Cost price - salvage value
=$12,000 -$ 2,000
=$10,000
The equipment was being depreciated over five years. The depreciation rate will be
=1/5 x 10=0.2
=20%
Depreciation per year will be
=20/100 x $10,000
=0.2 x $10,000
=$2,000 per year
Depreciation for 3 years
=$2,000 x 3
=$6,000
The book value of the equipment after three years will be
=cost price - accumulated depreciation
=$10,000 - $6,000
=$4,000
The equipment was sold for $7,200
the gains will be selling price - book value
=$7,200 - $4,000
=$3,200
In the _________________strategic focus, firms use their proactive environmental commitments in an attempt to differentiate their products and services for their customers and also allows potential customers to consider the natural environment when they are purchasing products and services.
Answer:
Beyond compliance leadership
Explanation:
Beyond compliance leadership is a very crucial strategic focus which requires a firm to go extra mile beyond the effort their compititors are making, their products should be differentiated from their competitors through proactive environmental commitments.
It should be noted that In the Beyond compliance leadership
strategic focus, firms use their proactive environmental commitments in an attempt to differentiate their products and services for their customers and also allows potential customers to consider the natural environment when they are purchasing products and services.
g Identify three human behavior trends found in 21st century organizations. From a management perspective, discuss why each trend is important to understand and acknowledge with regard to increased diversity in the workplace.
Explanation:
1- Respect for individual values
2- Greater autonomy at work
3- Greater use of social media
Globalization and new technologies have impacted the work environment in 21st century organizations. The fact that globalization has narrowed integration between countries has made the work environment multicultural, which can be seen in greater human behavior of integration, respect for the individual values of each person and greater tolerance and acceptance of diversity of employees with different values and cultures. This trend is essential for current companies, due to the fact that human capital is valued and the possibilities of creating an ethical organizational culture focused on development, creativity and innovation.
It is also a fact that organizational structures are becoming more flexible and less hierarchical, where each employee has more autonomy in their work and greater participation in organizational decisions. Employee autonomy in their role increases motivation and commitment to delivering more productive and innovative results for the company.
Another trend of current behavior is the use of social media, which directly interferes with the image of the organization, so it is necessary that the company's practices and policy are ethical so that the employee feels respected, valued and has a good perception of the company.
A manager must make a decision on shipping. There are two shippers: A and B. Both offer a two-day rate: A for $514, and B for $527. In addition, A offers a three-day rate of $472 and a nine-day rate of $407, and B offers a four-day rate of $458 and a seven-day rate of $424. Annual holding costs are 31 percent of unit price. Three hundred and sixty boxes are to be shipped, and each box has a price of $146. Which shipping alternative would you recommend
Answer:
Ship two-day using A ship
Explanation:
It is given that :
Total number of boxes to be shipped = 360 boxes
Cost of annual holding = 31%
= 0.31
Price for each box = $ 146
∴ Cost of total boxes = 146 x 360
= $52,560
∴ Total holding cost = 0.31 x 52560
= $ 16,293.60
Now the holding cost for one day = [tex]$\frac{16,293.60}{365}$[/tex] days
= 44.640 per day
For shipper A
Shipping cost + days x holding cost
Cost for 2 days = 514 + 2 x 44.640 = $ 603.28
Cost for 3 days = 472 + 3 x 44.640 = $ 605.92
Cost for 9 days = 407 + 9 x 44.640 = $ 808.76
Similarly for shipper B
Shipping cost + days x holding cost
Cost for 2 days = 527 + 2 x 44.640 = $ 616.28
Cost for 4 days = 458 + 4 x 44.640 = $ 636.56
Cost for 7 days = 424 + 7 x 44.640 = $ 736.48
Thus from above we can conclude that choosing Ship A for two days is the correct option.
g The difference between the small business owner and the entrepreneur is that the entrepreneur: Group of answer choices assumes the risk of the business is accurately described by all of the above manages the business files taxes for the business is responsible for the profits of the business
Answer: The entrepreneur assumes the risk of the business
Explanation:
An entreprenuer is a person that's bears the risk and controls the other resources such as the land , labour and the capital.
Also, we should note that the entrepreneur either makes a profit or loss. The difference between the small business owner and the entrepreneur is that the entrepreneur assumes the risk of the business
A company paid $150,000, plus a 6% commission and $4,000 in closing costs for a property. The property included land appraised at $87,500, land improvements appraised at $35,000 and a building appraised at $52,500. What should be the allocation of this property's costs in the company's accounting records
Answer:
Land $81,500; Land Improvements $32,600; Building $48,900
Explanation:
Calculation for What should be the allocation of this property's costs in the company's accounting records
First step is to calculate the total value
Total value= $87,500 + $35,000 + $52,500
Total value= $175,000
Second step
Land appraised = $87,500 ÷ $175,000
Land appraised= 0.50
Land improvement = $35,000 ÷ $175,000
Land improvement = 0.20
Building appraised = $52,500 ÷ $175,000
Building appraised = 0.30
Third step is to calculate the Total Amount
Total Amount= $150,000 + $150,000 × 0.06 + $4,000
Total Amount= $150,000 + $9,000 + $4,000
Total Amount= $163,000
Last step is to calculate the allocation of this property's costs in the company's accounting records
Land appraised = $163,000 × 50%
Land appraised = = $81,500
Land improvement = $163,000 × 20%
Land improvement= $32,600
Building appraised = $163,000 × 30%
Building appraised = $48,900
Therefore What should be the allocation of this property's costs in the company's accounting records is :
Land $81,500; Land Improvements $32,600; Building $48,900
On January 1, 2021, Blossom Corporation signed a 10-year noncancelable lease for certain machinery. The terms of the lease called for Blossom to make annual payments of $185015 at the end of each year for 10 years with the title passing to Blossom at the end of this period. The machinery has an estimated useful life of 15 years and no salvage value. Blossom uses the straight-line method of depreciation for all of its fixed assets. Blossom accordingly accounted for this lease transaction as a financial lease. The lease payments were determined to have a present value of $1241466 at an effective interest rate of 8%. With respect to this lease, Blossom should record for 2021
a. interest expense of $82764 and amortization expense of $69431.
b. interest expense of $99317 and amortization expense of $82764.
c. interest expense of $83317 and amortization expense of $124147.
d. lease expense of $99317.
Answer:
the interest expense os $99,317 and the depreciation expense of $82,764
Explanation:
The computation of the interest expense and the depreciation expense is given below:
Interest expense is
= Present value × effective interest rate
= $1,241,466 × 8%
= $99,317
And, the depreciation expense is
= Present value ÷ estimated life
= $1,241,466 ÷ 15 years
= $82,764
Hence, the interest expense os $99,317 and the depreciation expense of $82,764
This is the answer but the same is not provided in the given options
The following information is available for Sunland Company
Accounts receivable $3,400 Cash $6,200
Accounts payable 4,800 Supplies 3,740
Interest payable 520 Unearned service revenue 860
Salaries and wages expense 5,200 Salaries and wages payable 800
Notes payable 32,500 Depreciation expense 700
Common stock 50,600 Equipment (net) 110,500
Inventory 2,900
Required:
Using the information above, prepare a balance sheet as of December 31, 2022.
Answer:
Sunland Company
Balance Sheet as at December 31, 2022
ASSETS
Non - Current Assets
Equipment (net) 110,500
Total Non - Current Assets 110,500
Current Assets
Inventory 2,900
Supplies 3,740
Accounts receivable 3,400
Cash 6,200
Total Current Assets 16,240
Total Assets 126,740
EQUITY AND LIABILITIES
Equity
Common stock 50,600
Retained Earnings 36,660
(126,740 - 39,480 - 50,600)
Total Equity
Liabilities
Current liabilities
Accounts payable 4,800
Interest payable 520
Unearned service revenue 860
Salaries and wages payable 800
Total Current liabilities 6,980
Non - Current liabilities
Notes payable 32,500
Total Non - Current Liabilities 32,500
Total Liabilities 39,480
Total Equity and Liabilities 126,740
Explanation:
A Balance Sheet shows the Assets, Liabilities and Equity as at the Reporting date.
The Retained Earnings have been calculated as 126,740(Total Assets) - 39,480 (Total Liabilities) - 50,600 (Common Stock) = $50,600.
Why does the cost of capital constitute a direct link between return on capital expenditure and the returns required by capital investors
Answer:
The overview of the statement is summarized below.
Explanation:
The capital structure seems to be the ratio of net required by investors toward about there capital expenditure. Investment return capital spending seems to be the return rate required for expenditure. Returns required by financial institutions are much worse than the amount of capital, even before investors necessitate a reasonable level of profitability.Casper and Cecile divorced in 2018. As part of the divorce settlement, Casper transferred stock to Cecile. Casper purchased the stock for $180,000, and it had a market value of $288,000 on the date of the transfer. Cecile sold the stock for $252,000 a month after receiving it. In addition Casper is required to pay Cecile $9,000 a month in alimony. He made five payments to her during the year.
Required:
a. What are the tax consequences for Casper and Cecile regarding these transactions?
b. How much gain or loss does Casper recognize on the transfer of the stock?
c. Does Casper receive a deduction for the $7,500 alimony paid?
d. How much income does Cecile have from the $7,500 alimony received?
e. When Cecile sells the stock, how much does she report?
Answer:
a. No gain or loss will be recognized by either party.
b. $0 gain or loss will be recognized by Casper on the transfer.
c. Yes, a deduction will be received by Casper for the $45,000 alimony paid during the year.
d. The amount of income is the $45,000 alimony received from Casper during the year.
e. Cecile will report a capital gains of $72,000.
Explanation:
Note: This question has some errors. The correct question is therefore provided before answering the question as follows:
Casper and Cecile divorced in 2018. As part of the divorce settlement, Casper transferred stock to Cecile. Casper purchased the stock for $180,000, and it had a market value of $288,000 on the date of the transfer. Cecile sold the stock for $252,000 a month after receiving it. In addition Casper is required to pay Cecile $9,000 a month in alimony. He made five payments to her during the year.
Required:
a. What are the tax consequences for Casper and Cecile regarding these transactions?
b. How much gain or loss does Casper recognize on the transfer of the stock?
c. Does Casper receive a deduction for the $45,000 alimony paid?
d. How much income does Cecile have from the $45,000 alimony received?
e. When Cecile sells the stock, how much does she report?
The explanation of the answers are now given as folllows:
a. What are the tax consequences for Casper and Cecile regarding these transactions?
Casper who is the party that is making the transfer will enjoy a deduction for the property he transferred as he is nt entitled to the deduction. In addition, no gain or loss will be recognized by Casper o the transfer.
Cecila who us the party that receives the property will also not recognize income. She will include the property received on cost basis equal to basis of the Casper who is the party that the transfer.
b. How much gain or loss does Casper recognize on the transfer of the stock?
$0 gain or loss will be recognized by Casper on the transfer.
The reason for this is that anything that is paid under alimony that is not cash is not taxable. Since what Casper transferred is not cash, $0 will be recognized.
c. Does Casper receive a deduction for the $45,000 alimony paid?
The total alimony made by Casper during the year is calculated as follows:
Total alimony paid = Alimony amount * Number of payments during the year = $9,000 * 5 = $45,000
Therefore, a deduction will be received by Casper for the $45,000 alimony paid during the year.
d. How much income does Cecile have from the $45,000 alimony received?
The amount of income is the $45,000 alimony received from Casper during the year. And this will be included in her gross income.
e. When Cecile sells the stock, how much does she report?
The amount she will report as capital gain can be calculated as follows:
Capital gains = Revenue from the sales of the stock by Cecile - Purchase price paid by Casper = $252,000 - $180,000 = $72,000
Therefore, Cecile will report a capital gains of $72,000.
A consulting company collects data on the top 500 firms in the US. For each firm they record CEO salary, annual profit, number of employees, and type of industry. They ask you to build a data science model that explains CEO salary. Is this a problem of supervised learning or unsupervised learning?
Answer:
supervised learning
Explanation:
This would be considered supervised learning. This is because the data that is being collected is also being given specifically tagged category outputs such as CEO salary, annual profit, number of employees, and type of industry. These tags help the model map these factors as outputs for the collected data. Therefore, creating input-output connections for each company. If the data was not tagged and all the data was simply jumbled then it would be unsupervised learning.
Refer to the balance sheet above. If in 2006 Luther has 10.2 million shares outstanding and these shares are trading at $16 per share, then using the market value of equity, the debt-equity ratio for Luther in 2006 is closest to
Answer:
176 %
Explanation:
Note : The full question is attached below
The debt-equity ratio is part of the Debt Management Ratios. It shows how much foreign money is used by the company.
Debt-equity ratio = Total Debt / Total Equity × 100
Where
Total Debt = Short term debt + Current maturities of long term debt + Long term debt
= 9.3 million + 38.8 million + 239.1 million
= $287,200,000
Total Equity = Shares outstanding × Market Value
= 10,200,000 × $16
= $163,200,000
Therefore,
Debt-equity ratio = 176 %
The debt-equity ratio for Luther in 2006 is closest to 176 %
Scott used $4,000,000 from his savings account that paid an annual interest of 5% to purchase a hardware store. After one year, Scott sold the business for $4,100,000. His accounting profits is:
Answer:
$100,000
Explanation:
Accounting profit = Revenue - Explicit Cost
$4,100,000 - $4,000,000 = $100,000
Accounting profit does not taken into account opportunity cost or implicit cost. The implicit cost here is the amount of interest forgone by starting the store
This interest rate would have been earned if he left the money in his account
who has better abs 1 or 2?
Answer:
1
Explanation:
They just look more... real???
Answer:
Lm.ao what
Explanation:
Ig the second one lol
Retained earnings is: Multiple Choice The positive cash flows of a company. The net worth of a company. The owners' equity that has accumulated as a result of profitable operations. Equal to the total assets of a company.
Answer:
The net worth of a company
Explanation:
Retained earnings is what is left of net income after paying out dividends
Retained earnings = beginning of period retained earnings + net income - dividends
aagen Inc. is a merchandising company. Last month the company's cost of goods sold was $92,000. The company's beginning merchandise inventory was $14,000 and its ending merchandise inventory was $16,000. What was the total amount of the company's merchandise purchases for the month
Answer:
the company purchase is $94,000
Explanation:
The computation of the total amount of the company merchanise purchase for the month is shown below:
Cost of goods sold = Beginning merchandise inventory + Purchases − Ending merchandise inventory
$92,000 = $14,000 + Purchase - $16,000
So, the purchase is
= $92,000 + $16,000 - $14,000
= $94,000
Hence, the company purchase is $94,000
A stock repurchase may be viewed as A. a dividend decision when the firm has excess cash. B. a financing decision when the firm wants to alter its capital structure. C. an operating leverage decision.
Answer:
A. a dividend decision when the firm has excess cash. B. a financing decision when the firm wants to alter its capital structure.
Explanation:
share repurchase, can be regarded as a decision that a firm make to buy it's own share back to its self from the market place. Company do this to boast the stock in term of value.
Which out of the following is phenomenon that leads to Hyperinflation?
Select one:
a. It is a situation when a nation experiences very high and
accelerating inflation.
b. It is a situation caused by an increase in prices of inputs like labour, raw material
c. It is a situation of persistent rise in inflation along with dip in growth and increase in unemployment
d. It is a situation when aggregate demand in an economy outpaces aggregate supply
= It is a situation when a nation experiences very high and
accelerating inflation.
Some major considerations when deciding on housing are needs and?
Answer:
Budget
Explanation:
on edge2021! hope this helps!~ (*^▽^*)
Some major considerations when deciding on housing are needs and budget.
What is Budget?A budget is a financial plan for a specific period of time, typically a year. The budget covers all phases of operations for a specific period of time in the future. It is a formal expression of top management's predetermined policies, plans, objectives, and goals.
It may also take into account expected sales volumes and revenues, costs and expenditures, resource quantities, and assets, liabilities, and cash flows.
The first step when making a decision about housing is to get useful information on available housing in the areas where you are most interested to buy your new home. Also, while selecting a home, two important things to consider are needs and budget.
Therefore, needs and budget should be taken into consideration while making a decision on buying a house.
To learn more on budget, click here:
https://brainly.com/question/15683430
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Compton Inc. has a beginning materials inventory balance for May of $27,500, and an ending balance for May of $28,750. Materials used during the month were $128,900. As a result, what is the cost of materials purchased during the month
Answer:
Purchases= $130,150
Explanation:
Giving the following information:
Beginning inventory= $27,500
Ending inventory= $28,750.
Materials used during the month were $128,900.
To calculate the direct material purchase, we need to use the following formula:
Purchases= production + desired ending inventory - beginning inventory
Purchases= 128,900 + 28,750 - 27,500
Purchases= $130,150
How does the trade benefit the society?
Answer:
Trade is critical to America's prosperity - fueling economic growth, supporting good jobs at home, raising living standards and helping Americans provide for their families with affordable goods and services.
A step-by-stepguide Suppose that during the past year, the price of a laptop computer fell from $2,350 to $1,930. During the same time period, consumer sales increased from 436,000 to 537,000 laptops.
Required:
Calculate the elasticity of demand between these two price.
Answer:
See below
Explanation:
Elasticity of demand is the degree of responsiveness of demand to a change in price
Quantity demand from 436,000 to 537,000
Change in demand from : 537,000 - 436,000 = 101,000 increase in sales
Percentage change = 101,000/436,000 = 0.23 or 23.17% increase
Price : from $2,350 to $1,930
Change in price : $1,930 - $2,350 = -$420 decrease in price
Percentage change = $400/$2,350 = 0.1702 decrease or 17.02% decrease
Elasticity of demand = 23.17%/17.02% = 1.347
Since the price elasticity is greater than 1, it means that the demand for the product is largely affected by the price.
