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lawyer [7]
2 years ago
13

Suppose the price elasticity of supply for gasoline in the short run is estimated to be 0.4. Due to an unexpected surge in the d

emand for gasoline, the price of gasoline increases by 20 percent. As a result, the quantity supplied of gasoline will:________.
Business
1 answer:
oee [108]2 years ago
6 0

Answer:

8%

Explanation:

The formula and the computation of the price elasticity of supply is shown below:

Price elasticity of supply = (Percentage change in quantity supplied ÷ percentage change in price)

where,

Price elasticity of supply = 0.4

And, the percentage change in price = 20%

So, the percentage change in quantity supplied is

= Price elasticity of supply × the percentage change in price

= 0.4 × 20%

= 8%

It shows a direct relationship between the quantity supplied and the price.

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A house sold for $165,000, and the total commission received by the broker was $13,200. What was the rate of commission?
andrey2020 [161]

Answer:

the rate of commission is 8%

Explanation:

The computation of the rate of commission is shown below:

Rate of commission is

= Commission received by the broker ÷ Sale value of the home

where,

The Commission received by the broker is $13,200

And, the sale value of the home is $165,000

Now put these values to the above formula

So, the rate of commission is

= $132,00 ÷ $165,000

= 8%

Hence, the rate of commission is 8%

7 0
2 years ago
Peachtree Company borrows $30,000 from the local bank at 7% interest. The term of the note is five years, and the annual payment
grandymaker [24]

Answer:

B

Explanation:

Here, in this question, we are asked to determine the decrease in notes payable that peachtree should record in the first year.

To determine this, we proceed as follows;

Interest payment for the first year = 30000*7% i.e 2100

Principal amount paid = Total amount paid - Interest amount

= 7317 -2100 i.e 5217

Notes payable should be reduced by 5217

4 0
2 years ago
Read 2 more answers
Ask Socrates Inc. is a computer software company that employs highly intelligent, but somewhat unusual people. Every Friday, fre
Phoenix [80]

Answer: a. Material symbol

Explanation:

When talking about the Material symbols of Organizational Culture, those unspoken norms and behaviours that explain to you the type of Organization you are in are what are being referred to.

Materials symbols explain the type of culture in an organization by conveying information on the Equality level of the employees as well as the type of performance and behaviour expected of them.

They can be expressed through dress codes, company cars and even offices given to a certain cadre of Employees.

Seeing as the above scenario deals with the dress code, it most likely falls under an Organization's material symbols.

3 0
2 years ago
Company a has a potential irr of 23% and company b has a potential irr of 30%. what 2 questions would you ask before you decide
Vladimir [108]
I would ask "how much is the initial investment" and "how long is the payback period of the project" before I decide which one to invest in. The IRR of both companies have already shown the return rate of the project, therefore knowing the period and the initial amount would be the best option<span>. This option related to our fund sufficiency and cash flow.</span>
4 0
2 years ago
"An expenditure made in connection with a machine being used by a company to produce inventory should be expensed immediately if
Ipatiy [6.2K]

Answer:

True

Explanation:

Efficiency related expenditures are more closely with day-to-day servicing of the machine. Such an expenditure just maintains machine's capacity to save the future economic benefits rather than improve its capacity.

4 0
2 years ago
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