Answer:
A. Inelastic
B. a less than 10% increase in quantity supplied
Explanation:
A supply is inelastic when a percentage change in quantity supplied is less than percentage change in price.
A supply is inelastic if the price elascitiy is less than 1.
Answer:
If both demand and supply increase by the same amount, the output level will increase while price will remain same.
If increase in demand is greater than increase in price then price and output both will increase.
If increase in supply is greater than increase in demand, price will decline while output will increase.
Explanation:
The changes in the price and quantity of salsa depending on the degree of change in supply and demand. In case both the variables increase by the same proportion, the price will remain the same while quantity will increase.
In case the increase in demand is more than increase in supply it would cause the price to increase because of excess demand. At the same time, the quantity will increase as well.
In case the increase in supply is more than increase in demand, the price will fall due to excess supply. The output will increase as well.
Answer:
the risk premium = return of the deposit - risk free deposit return
risk premium = 5.2% - 2.5% = 2.7% or $27 for a $1,000 CD
Besides the investment risk, Casey must also consider the inflation rate and taxes. The inflation rate lowers the real interest earned by Casey: real interest rate = nominal interest rate - inflation rate. And she must also find out how the return from the non-financial institution is taxed, if it can be taxed as capital gains or regular income.
Answer:
Under the accrual basis, it should recognize $1,000,000 as property tax revenue for the year 2019. The remaining $45,000 that it does not collect in year 2019 will be accounted for as Property Tax Receivable while the $5,000 will be recorded as Uncollectible Expense in 2019.
Explanation:
The accrual concept or basis of accounting requires that all revenues and expenses relating to a fiscal year be recognized in that accounting year. It is not only the actual cash receipts and payments that should be recognized. This means that any revenue that is due but not yet received will be accounted for in the year that the revenue arises. And all the related expenses for raising the revenue will also be accounted for in the same year.
Answer:
The court will probably look at the custom usage of trades on similar contracts and provisions.
Explanation:
Usage of trade refers to business practices that are so commonly accepted and carried out that anyone can expect that they are included in the transactions.
