When a university bookstore prices chemistry textbooks at $200 each, it generally sells 120 books per month. If it lowers the price to $160, sales increase to 160 books per month. Given this information, we know that the price elasticity of demand for chemistry books is about.

a. 1.29, and a decrease in price from $200 to $160 results in an increase in total revenue.
b. 1.29, and a decrease in price from $200 to $160 results in a decrease in total revenue
c. 0.78, and a decrease in price from $200 to $160 results in an increase in total revenue.
d. 0.78, and a decrease in price from $200 to $160 results in a decrease in total revenue.

Evelyn would like to open a small business that is categorized as a being in the distribution industry. to do this she could open a establishment.

Concrete consulting co. has the following accounts in its ledger: cash; accounts receivable; supplies; office equipment; accounts payable; jason payne, capital; jason payne, drawing; fees earned; rent expense; advertising expense; utilities expense; miscellaneous expense. transactions oct. 1 paid rent for the month, $3,600. 3 paid advertising expense, $1,200. 5 paid cash for supplies, $750. 6 purchased office equipment on account, $8,000. 10 received cash from customers on account, $14,800. 15 paid creditors on account, $7,110. 27 paid cash for miscellaneous expenses, $400. 30 paid telephone bill (utility expense) for the month, $250. 31 fees earned and billed to customers for the month, $33,100. 31 paid electricity bill (utility expense) for the month, $1,050. 31 withdrew cash for personal use, $2,500. journalize the following selected transactions for october 2019 in a two-column journal. refer to the chart of accounts for exact wording of account titles

Adds up the money earned by producers plus taxes paid to the goverment. a) income approach b) product approach c) expenditure approach