Elasticity of good and service

Assignment Help Accounting Basics
Reference no: EM13145993

The substitutability of a particular good/service can play havoc on a company's sales. This is formally defined as elasticity of a good/service. The elasticity/substitutability changes for 4 reasons. The 4 reasons are stated below, briefly describe/explain them.

a) The larger the time interval

b) Broader definition

c) Depends on the size relative to a person's budget

d) The more the good/service is a necessity

Reference no: EM13145993

Questions Cloud

Compute the force of attraction between a cation : Calculate the force of attraction between a cation with a valence of +2 and an anion with a valence of -2, the centers
Analyze the way banks are supervised in the us : Analyze the way banks are supervised in the U.S. and make at least one recommendation for improvement. Explain your rationale.
Firm creditors and stockholders : The cash flow of a firm which is available for distribution to the firm's creditors and stockholders is called the
Estimate mean monthly rent paid by whole student population : Estimate the mean monthly rent paid by the whole student population. what is the probability that the sample mean exceeds the population mean by more than %5.
Elasticity of good and service : The substitutability of a particular good/service can play havoc on a company's sales. This is formally defined as elasticity of a good/service. The elasticity/substitutability changes for 4 reasons. The 4 reasons are stated below, briefly describ..
Compensating-balance requirement : If Lincoln Bank eliminated its compensating-balance requirement, would your answer change?
Probability there are no offensive-defensive roommate pairs : Ppurpose of determining the roommates. If the pairing is done at random, what is the probability that there are no offensive-defensive roommate pairs?
People in the u.s. are involved in business : Millions of people in the U.S. are involved in business. In the 1920s, President Calvin Coolidge proudly stated, "The business of America is business.
What is the percent hydrogen (h) by weight of a solution : What is the percent hydrogen (H) by weight of a solution containing 53.5mL of CH3COCH3? The density of acetone is 0.788 g/mL

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determining new pcaob reporting requirements

Examine different types of organizational illegal activities, including cybercrimes and the impact to the organization. Use technology and information resources to research issues in forensic accounting.

  Discuss reversing entries

What are reversing entries and why are they required? What would happen if reversing entries were not made? What transactions might require reversing entries? What transactions might not require reversing entries?

  Determine the basis of the property in determining the gain

Evaluate the pros and cons related to an exclusion of a $250,000 gain for a primary residence and how using this residence as rental property could impact the gain or loss determination for the homeowner taxpayer. Recommend tax planning strategies..

  What is the length of the firm cash conversion cycle

Luke Company has an inventory conversion period of 60 days a receivables conversion period of 45 days, and a payments cycle of 30 days. What is the length of the firm's cash conversion cycle?

  Opinion regarding potential liability

Teddy's Supplies' CEO has asked you to advise him on the facts of the case and your opinion of their potential liability. He wants to settle the case. Write a memo to him that states your view of whether the company is exposed to liability on all ..

  Bonds converted into preferred stock

Each $1,000 bond is convertible into 20 shares of preferred stock of par value of $50 per share. All bonds are converted into preferred stock. Assuming that the book value method was used, what entry would be made?

  Problem related to incurred normal spoilage

In manufacturing its products for the month of September 2010, El Dorado Corporation incurred normal spoilage of $7,000 and abnormal spoilage of $3,000. How much spoilage cost should El Dorado charge as inventoriable for the month of September 201..

  Violations of accounting conventions

Presented below are a number of accounting procedures and practices in Sanchez Corp. For each of such  items, list the assumption, information characteristic, principle, or modifying convention that is violated.

  What is target pricing

What is target pricing?

  What will your equal monthly payment be

Suppose you take out a $15,000 loan at a 8% nominal annual rate. The terms of the loan require you to make 12 equal end-of-month payments each year for 5 years and then an additional balloon payment of $5,000 at the end of the last month. What wil..

  Tax savings from special tax treatment

Daniel figures that he has loss of $60,000 on each stock. If Daniel's marginal tax rate is 35 percent and he has $120,000 of other capital gains (taxed at 15 percent), what is tax savings from the special tax treatment?

  Excess of par increase for this transaction

Mitchell's usual billing rate is $700 per hour, and Fink's stock has a book value of $250 per share. By what amount will Fink's Paid-in capital - excess of par increase for this transaction?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd