The price elasticity of demand measures the: A) responsiveness of quantity demanded to a change in quantity supplied. B) responsiveness of price to a change in quantity demanded. C) responsiveness of quantity demanded to a change in price. D) responsiveness of quantity demanded to a change in income.

Answers

Answer 1
Answer:

Final answer:

The price elasticity of demand measures the responsiveness of quantity demanded to a change in price, indicating how much the quantity demanded changes when there is a change in the price of a product.

Explanation:

The correct answer is C) responsiveness of quantity demanded to a change in price. The price elasticity of demand measures how responsive the quantity demanded of a good or service is to a change in its price. It helps us understand how much the quantity demanded changes when there is a change in the price of a product. For example, if the price of a luxury car increases by 10% and the quantity demanded decreases by 20%, the price elasticity of demand would be 2, indicating that the demand is elastic.

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Answer 2
Answer:

Final answer:

Price elasticity of demand measures how a change in price affects the quantity of a commodity demanded, i.e., it gauges the responsiveness of quantity demanded to price changes. The answer is C) responsiveness of quantity demanded to a change in price. Elasticity can be elastic, inelastic, or unitary.

Explanation:

The price elasticity of demand measures the responsiveness of the quantity demanded to a change in price. Specifically, it is the ratio between the percentage change in the quantity demanded (Qd) and the corresponding percent change in price. This concept is used to understand how sensitive the demand for a good is to a change in its price. Hence, the correct answer is C) responsiveness of quantity demanded to a change in price. An elastic demand indicates that quantity demanded is significantly affected by price changes while an inelastic demand indicates a lesser effect. The concept of unitary elasticity notes an equal percentage change in quantity demanded to the change in price.

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You are a manager of a large business enterprise.explain how you would address issues of equality respect and dignity in your business

Answers

I would address the issues of equality, respect and dignity by through several steps.  One is providing more opportunities for advancement for all employees regardless of their age, rank, position, religious beliefs, gender, etc. Secondly I would also implement guidelines in addressing fair treatment of employees.  I would hold workshops that would encourage camaraderie among employees.  What is important is that all employees are treated with respect and have access to better opportunities. 

What is meant by money being ACCESSIBLE? (select all that apply) Anyone can get it easily It takes a long time to get the money The owner can get it quickly The owner can get it easily

Answers

Answer:

  • The owner can get it quickly
  • The owner can get it easily

Explanation:

When money is said to be accessible, it means that the owner can get to it quickly and easily. This means that the money is very liquid and so can be used in times of emergency.

Examples of accessible money include physical cash, short term investments and checkable deposits at banks. The owners can access these easily and quickly because they either have the money, can sell the investments pretty quickly to get money or can simply withdraw the money from their bank accounts.

Pappy Corporation received cash of $36,000 on September 1,2017 for one year's rent in advance and recorded the transaction with a credit to Unearned Rent December 31, 2017 adjusting entry isdebit Rent Revenue and credit Unearned Rent Revenue, $12,000.
debit Rent Revenue and credit Unearned Rent Revenue, $24,000.
debit Unearned Rent Revenue and credit Rent Revenue, $12,000.
debit Cash and credit Unearned Rent Revenue, $24,000

Answers

Answer:

debit Unearned Rent Revenue and credit Rent Revenue, $12,000.

Explanation:

Provided information we have,

Rent is received on 1 September 2017 for a period of 1 year on which it is accounted as Unearned Rent amounting $36,000.

Entry on that date would be

Cash A/c Dr.                  $36,000

To Unearned Rent                        $36,000

At the end of the year on 31 December 2017, we have period of current year lapsed = 1 September to 31 December = 4 months.

Thus rent income for the year = $36,000 * (4)/(12) = $12,000

Therefore this rent of $12,000 will be recognized as rent income for the year 2017.

Entry will be

Unearned Rent A/c Dr.            $12,000

          To Rent Revenue                         $12,000

Final answer:

At the end of the year, Pappy Corporation should debit Unearned Rent Revenue and credit Rent Revenue by $12,000 as part of an adjusting entry to reflect 4 months of earned rent. The remainder stays in Unearned Rent until it's earned in the following year.

Explanation:

The transaction from September 1, 2017, where Pappy Corporation received cash of $36,000 for one full year's rent in advance, is recorded with a credit to Unearned Rent. The Unearned Rent is a liability account which shows that Pappy Corporation has an obligation to provide the rent space in the future. At the end of the year, December 31, 2017, an adjusting entry should be made to transfer a third of the rent payment ($12,000) from the Unearned Rent account to the Rent Revenue account as by this time four months of rent have been earned. Hence, the accurate adjusting entry is debit Unearned Rent Revenue and credit Rent Revenue, $12,000. The remaining $24,000 stays in the Unearned Rent account until it is earned in the following year.

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How does social distancing and stay-at home measures change our buying behavior(s)?

Answers

Answer:

we have to socal distance and then we get annoyed and upset when someone gets in our space

Stacy has a net spendable income of $1,850 per month. What is the maximum amount of money that she should budget for food? Round to the nearest dollar.Select the best answer from the choices provided.
$315
$312
$222
$276

Answers

The right answer for the question that is being asked and shown above is that: "$222." Stacy has a net spendable income of $1,850 per month. The maximum amount of money that she should budget for food is $222

Characteristics of a monopoly

Answers

Number of firms -one Nature of product-a unique product with no close substitute Entry- completely blocked Information - complete Collusion between sellers - irrelevant Firm's control over the price of product - considerable , but limited by market demand and goal of profit maximisation Demand curve of the firm's product - equals market demand curve : downward sloping Long-run economic profit - can be positive