Suppose the price of a textbook drops from $150 to $100 and the quantity demanded increases from 10,000 to 20,000. Fill in the blanks to answer the questions that follow. A. What is the elasticity of demand? B. What kind of elasticity is this? (Round to two decimal points) (enter "elastic" or "inelastic" with no capitals)

Suppose the price of a textbook drops from $150 to $100 and the quantity demanded increases from 10,000 to 20,000 . Fill in the blanks to answer the questions that follow. A. What is the elasticity of demand? (Round to two decimal points) B. What kind of elasticity is this? (enter "elastic" or "inelastic" with no capitals) Luong Corporation encounters the following situations: Identify what type of adjusting entry (prepaid expense, unearned revenue, accrued expense, or accrued revenue) is needed in each situation at December 31, 2022. 1. Luong collects $1,300 from a customer in 2022 for services to be performed in 2023. 2. Luong incurs utility expense which is not yet paid in cash or recorded. 3. Luong's employees worked 3 days in 2022 but will not be paid until 2023. 4. Luong performs services for customers but has not yet received cash or recorded the transaction. 5. Luong paid $2,800 rent on December 1 for the 4 months starting December 1. 6. Luong received cash for future services and recorded a liability until the service was performed. Luong performed consulting services for a client in December 2022. 7. On December 31, it had not billed the client for services provided of $1,200. 8. Luong paid cash for an expense and recorded an asset until the item was used up