Although CPAs have specific education and experience requirements, regular accountants do not. That means students have the opportunity to study in any number of related fields and still be eligible to fill accounting positions. Here are five popular degree options for accountants.
If the demand increases, and the supply remains the same, there will be a shortage. This will mean the price will increase. If the demand decreases, and the supply remains the same, there will be a surplus. This will mean the price will go down.
Price elasticity of demand and total revenue are closely interrelated because they deal with the same two variables, P and Q. If your product has elastic demand, you can increase your revenue by decreasing the price of that good. P will decrease, but Q will increase at a greater rate, thus increasing total revenue.