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A firm has estimated the following demand function for its product:
Q = 100 - 5 P + 5 I + 15 A
Where Q is quantity demanded per month in thousands, P is product price, I is an index of consumer income, and A is advertising expenditures per month in thousands. Assume that P=$200, I=150, and A=30. Use the point formulas to complete the elasticity calculations indicated below.
(i) Calculate quantity demanded. (ii) Calculate the price elasticity for demand. Is demand elastic, inelastic, or unit elastic? (iii) Calculate the income elasticity of demand. Is the good normal or inferior? Is it a necessity or a luxury?
Based on what you know about accounting, what role do you see it playing in business operations? How dependent do you think a business is on its accounting department? Explain why. Why are ethics so important in the field of accounting?
pearl city leases an emergency communications system. the term of the lease is 10 years approximately the useful life
Assume that in 2015 the estimates changed to reflect only 20,000 tons of gold ore remaining. Prepare the depletion journal entry in 2015 to account for the extraction of 10,000 tons of gold ore.
What are the two general criteria that must be satisfied before a company can recognize revenue? Moreover explain compound interest.
Which condition results in the most interest expense?
a company that manufactures ultrasonic wind sensors invested 1.5 million 2 years ago to acquire part ownership in an
comparative balance sheets for 2013 and 2012 a statement of income for 2013 and additional information from the
Salaries accrued on the last day of the fiscal year total $1,400, and the salaries paid on the first payday in the following year totaled $3,175. Assuming no unusual circumstances, what is the salary expense thus far in the following year?
revenues 2400 units........1584000 variable expenses...................871 200 contribution margin...............712800
In payment, Esquire agreed to accept a 6% note requiring the payment of interest and principal on March 31, 2014. The 6% rate is appropriate in this situation.
On January 1, 2009, D Corp. granted an employee an option to purchase 6,000 shares of D's $5 par common stock at $20 per share.
mateo corporation is considering purchasing a new delivery truck. the truck has many advantages over the companys
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