Total demand drops from 500 to 400 units when a retailer increases car wash prices from $3 to $4 . Price elasticity of demand (expressed as a positive number) equals _____

a. 0.57
b. 0.78
c. 1.75
d. 2.60

b

Business

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Indicate whether the statement is true or false.

Business

The Siempre Store has the following data for inventory:

Cost Retail Inventory, March 1 $220,000 $320,000 Purchases for March 340,000 800,000 Sales for March 493,800 The store uses the LIFO retail method. Round all ratios to four decimal places. What is the cost of the ending inventory at March 31? A) $306,200 B) $626,200 C) $266,135 D) $350,135

Business