<span>The contract Henry entered into to sell his farm is void and not enforceable. Henry is not mentally competent to enter into such arrangements and the courts will not uphold the sale.</span>
Answer:
It should price the espresso at $1.25
Explanation:
![\left[\begin{array}{ccccc}&D1&D2&D3&D4\\$Sales Price&1&1.25&1.5&1.75\\$Variable Cost&0.25&0.25&0.25&0.25\\$Margin&0.75&1&1.25&1.5\\$Quantity&9,000&8,000&6,000&4,000\\$Contribution&6,750&8,000&7500&6,000\\$Fixed Cost&3,000&3,000&3,000&3,000\\$Income&3,750&5,000&4,500&3,000\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bccccc%7D%26D1%26D2%26D3%26D4%5C%5C%24Sales%20Price%261%261.25%261.5%261.75%5C%5C%24Variable%20Cost%260.25%260.25%260.25%260.25%5C%5C%24Margin%260.75%261%261.25%261.5%5C%5C%24Quantity%269%2C000%268%2C000%266%2C000%264%2C000%5C%5C%24Contribution%266%2C750%268%2C000%267500%266%2C000%5C%5C%24Fixed%20Cost%263%2C000%263%2C000%263%2C000%263%2C000%5C%5C%24Income%263%2C750%265%2C000%264%2C500%263%2C000%5C%5C%5Cend%7Barray%7D%5Cright%5D)
The best Income is generated at the price of 1.25 dollar
Therefore, this is the amount to Specialty Coffees set for espresso.
Answer:
<u>the supply curve</u>
Explanation:
Remember the supply curve shows the relationship between the amount of a commodity that a producer (or orange farmer) is <em>willing </em>to offer and at a particular price at any given time.
Because of the subsidies to orange farmers we expect the price of orange to become lesser in the future. Therefore the rightward shift occurs in supply curve for oranges due to favorable changes such as the new legislation which may lead to:
- Reduction in tax,
- Reduction in cost of factor of production,
- Expectation of fall in price in future,
Answer:
The answer is below
Explanation:
The graph is attached below.
a) The price elasticity of demand is given by:
price elasticity of demand = 
Price of elasticity demand = 
Price of elasticity demand = 
Since the price of elasticity demand > 1, it is elastic
b) Price of elasticity demand = 
Since the price of elasticity demand = 1, it is unitary
c) Price of elasticity demand = 
Since the price of elasticity demand < 1, it is inelastic
Answer:
Using the adjusted balances, give the closing entry for the current year.
Explanation:
1
Db Insurance expense 6000
Cr Prepaid expenses 6000
2
Db Wages payable 4000
Cr Cash 4000
3
Db Depreciation expense 9000
Cr Accumulate depreciation 9000
4
Db Income tax expense 7000
Cr Tax payable 7000
