Refer to the Following:
the Estimated Demand for a Good $\hat { Q } = 4,800 - 16 P - 0.65 M - 1.5 P _ { R }$

question 63

Multiple Choice

Refer to the following:
The estimated demand for a good is

$\hat { Q } = 4,800 - 16 P - 0.65 M - 1.5 P _ { R }$
where Q is the quantity demanded of the good, P is the price of the good, M is income, and
$P _ { R }$ is the price of related good R.
-If income decreases by $2,000, all else constant, quantity demanded will ________ by _________ units.

• A) increase; 1.30 units
• B) decrease; 6.5 units
• C) increase; 1,300 units
• D) decrease; 65 units

Explain the implications of the operating cycle length on business operations.

Compute gross margin and understand its implications on business profitability.

Differentiate between the accounting treatments under periodic and perpetual inventory systems.

Distinguish between current and quick ratios in evaluating company liquidity.

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