On january 1, 2016, elite advertising was contracted to run a marketing campaign for pharm king's new dieting pills. in addition to getting a base fee of $150,000 for the 3-year campaign, elite also may get an additional 5% of the base fee as a bonus if a targeted sales level is reached at the end of three years. elite currently lacks sufficient information to make an estimate of the likelihood of the expected bonus, with the marketing director indicating that "if you forced me to make an estimate, i'd say we have a 50/50 chance. but don't quote me on that - it's really too early to tell." elite concludes this contract qualifies for revenue recognition over time, and estimates variable consideration using the most likely amount. how much revenue should elite recognize as of december 31, 2016? a. $50,000b. $51,250c. $52,500d. $57,500

1. demand terminology complete the following table by selecting the term that matches each definition. definition quantity demanded demand curve demand schedule law of demand a graphical object showing the relationship between the price of a good and the amount of the good that buyers are willing and able to purchase at various prices the amount of a good that buyers are willing and able to purchase at a given price a table showing the relationship between the price of a good and the amount that buyers are willing and able to purchase at various prices the claim that, with other things being equal, the quantity demanded of a good falls when the price of that good rises apply your understanding of the previous key terms by completing the following scenario with the appropriate terminology. your coworker becky is really concerned about a project that she has just been assigned. she is in charge of analyzing and determining conditions in the market for televisions from an extensive sales report. if becky's boss is interested in a graphical representation of the relationship between the pric