What do economists mean when they say that quantity demanded and price have an inverse relationship?

What factors determine a products demand elasticity

Shawl Corporation's variable overhead is applied on the basis of direct labor-hours. The standard cost card for product F02E specifies 5.5 direct labor-hours per unit of F02E. The standard variable overhead rate is $6.80 per direct labor-hour.

Imagine Tom's annual salary as an assistant store manager is $30,000, he owns a building that rents for $10,000 yearly, and his financial assets generate $1,000 per year in interest.

Caroline needs information from a coworker in another office about an upcoming salespromotion. What is the best communication channel for Caroline to use to request thisinformation? Email, text, or IM (T/F)

Discount Mart utilizes the allowance method of accounting for uncollectible receivables. On December 12 the company receives a $530 check from Chad Thomas in settlement of Thomas's $1,300 outstanding accounts receivable.

8-8 Outsourcing (LO 3) The Outland Company manufactures 1,000 units of a part that could be purchased from an outside supplier for $12 each.

Papa Roach Exterminators, Inc., has sales of $699,000, costs of $385,000, depreciation expense of $47,000, interest expense of $25,000, and a tax rate of 30 percent. If the firm paid out $80,000 in cash dividends.

Bob, after going on a week-long alcohol binge, has not had anything to drink in the last 24 hours. he states there are rats running across the floor (though no one else sees the rats), exhibits trembling in his hands, and cannot identify where he is

What kind of system is the united states economy based on?

Sunland Company made a $24700 sale on account with the following terms: 2/10, n/30. If the company uses the gross method to record sales made on credit, what is/are the debit (s) in the journal entry to record the sale?