The yoga class meets twice a week.

Answer:

The elasticity of supply for hot cocoa calculated at 1.43.

(D) The coffee market's supply is less elastic compared to that of hot cocoa.

Explanation:

Applying the midpoint formula,

The elasticity of supply for hot cocoa is (change in quantity supplied/average quantity supplied) ÷ (change in price/average price).

The change in quantity supplied amounts to 101 - 31 = 70.

The average quantity supplied equals (101 + 31)/2 = 66.

70/66 yields 1.06.

The price change is 9.75 - 4.5 = 5.25.

The average price is (9.75 + 4.5)/2 = 7.125.

5.25 divided by 7.125 results in 0.74.

Thus, hot cocoa's elasticity of supply is 1.06 ÷ 0.74 = 1.43. The supply for hot cocoa is elastic since this value exceeds 1.

For coffee, the elasticity of supply computes to (73 - 31)/(73 + 31)/2 ÷ 0.74, which simplifies to 42/52 ÷ 0.74 = 0.81 ÷ 0.74 = 1.09. Coffee supply is regarded as elastic as well because its elasticity is above 1.

However, the supply of coffee is less elastic than that of hot cocoa since its elasticity value is lower than that for hot cocoa.

Here are some strategies that Apple should implement to guarantee widespread use of Apple Pay -

i) Encourage more merchants to accept it by educating them and providing devices at low costs

ii) Expand support across various platforms so that users of different devices can access Apple Pay services

iii) Boost visibility by collaborating with additional e-commerce platforms and applications

Answer:

The calculations are presented below:

Explanation:

1.                       FIFO    LIFO Average cost  

Cost of goods sold      

Beginning inventory       $11,200      $11,200  $11,200

(400 units ×  $28)                          

Purchases                       $16,625    $16,625   $16,625

(475 units × 35)                  

Total goods available $27,825    $27,825   $27,825  

Ending inventory             $18,025    $15,575    $16,695

(525 units)  

Cost of goods sold          $9,800    $12,250    $11,130  

Calculated using ending inventory = 475 × $35 + 50 × $28    

FIFO = $18,025  

For LIFO ending inventory: 400 × $28 + 125 × $35

Results in $15,575  

Average cost is found by: $27,825 ÷ $875    

Which equals 31.8      

Ending inventory is calculated as 525 × 31.8

This leads to $16,695

2.                           FIFO            LIFO         Average

Sales

(307 × $50)                $15,350         $15,350    $15,350

Cost of goods sold     $9,800    $12,250    $11,130

Gross Profit                 $5,550           $3,100      $4,220

Expenses                     $1,680           $1,680      $1,680

Net income                  $3,870           $1,420       $2,540

3. FIFO ranks as 3

LIFO ranks as 2

Average ranks as 1