Answer:
the demand curve is vertical
Explanation:
In the case when the demand is perfectly inelastic the demand curve would be zero and the elasticity of the demand would be zero also if there is a decrease in the price so the total revenue would be increased
Therefore as per the given situation, in the case when the demand is perfectly inelastic so the demand curve would be vertical
If the cross-price elasticity of demand between Good A and Good B is 3 and the percentage change in price of Good A is 5%, what is the percentage change in quantity demanded of Good B
Answer:
Multiple choice questions.
1.The price elasticity of demand is:
a) the ratio of the percentage change in quantity demanded to the percentage change in price.
b) the responsiveness of revenue to a change in quantity.
c) the ratio of the change in quantity demanded divided by the change in price.
d) the response of revenue to a change in price.
2.If demand is price elastic, then:
a) a rise in price will raise total revenue.
b) a fall in price will raise total revenue.
c) a fall in price will lower the quantity demanded.
d) a rise in price won't have any effect on total revenues.
3. Complementary goods have:
a) the same elasticities of demand.
b) very low price elasticities of demand.
c) negative cross price elasticities of demand with respect to each other.
d) positive income elasticities of demand.
4. The price elasticity of demand generally tends to be:
a) smaller in the long run than in the short run.
b) smaller in the short run than in the long run.
c) larger in the short run than in the long run.
d) unrelated to the length of time.
5. If the price elasticity of supply of doodads is 0.60 and the price increases by 3 percent, then the quantity supplied of doodads will rise by
a) 0.60 percent.
b) 0.20 percent
c) 1.8 percent
d) 18 percent.
6. Suppose we know that the price elasticity of demand of good X is equal to -1.2. Then, if its price will increase by 5%, we can predict with certainty that
a) quantity demanded of that good will increase.
b) the revenue of the firm producing that good will increase by 6%.
c) the revenue of the firm producing that good will decrease by 6%.
d) the quantity demanded of that good will decrease by 6%.
e) None of the above.
7. A 10% increase in the price of movie ticket in Westridge 8 leads to a 15% decrease in the number of tickets sold, indicating the demand for movie ticket in Westridge 8 is:
a) elastic.
b) inelastic.
c) unit elastic.
d) Can not tell from the information given.
8. If the cross-price elasticity between two commodities is 1.5,
a) the two goods are luxury goods.
b) the two goods are complements.
c) the two goods are substitutes.
d) the two goods are normal goods.
True/False/Uncertain.
For each of the following statements, say whether it is true, false, or uncertain and explain your answer.
1. It is reasonable to expect the cross price elasticity of demand for golf clubs and golf balls to be positive.
Golf clubs and golf balls are complementary goods. This means that, as the price of golf clubs increases (a positive change), the consumption of golf balls decreases (a negative change). Cross price elasticity of demand is equal to the ratio of these changes and will be negative. The statement is false.
2. If the demand is perfectly elastic, then a shift in the supply curve does not affect the equilibrium price.
True, because a perfectly elastic demand curve is horizontal. Therefore, no matter what the shift is the equilibrium price will always remain the same. (See graph.) S and D graph
3. The demand curve for autos is more elastic than the demand curve for Fords.
False. A Ford can be substituted by a different model. It is not as easy to find a substitute for a car in general. The more substitutes a good has, the more elastic is the demand for that good. Therefore, demand for Fords is more elastic.
4. Suppose you own a "Here Comes the Sun" tanning salon and the demand curve for your services is downward sloping. Further, suppose that a new tanning salon called "Sunny Delight" opens two blocks away from your salon. Tell whether the following three statements are true, false or uncertain and explain your answer.
a. The demand curve for your services shifts to the right.
This new salon is a substitute for your services. After it has appeared, your consumers have more choice, and some of them will start using the new salon. So the demand for your services will decrease, or shift to the left.
The statement is false.
b. The demand for your services becomes more elastic.
One of the factors determining the price elasticity of demand for the good is the number of substitutes. More substitutes - more elastic demand.
The statement is true.
c. The cross-price elasticity of the demand for your services with respect to the price charged by "Sunny Delight" is negative.
These two goods (services) are substitutes. The cross-price elasticity of substitutes is positive, since as the price of one of them increases, the demand for (and therefore the consumption of) the other one increases, too.
The statement
Explanation:
Reece is trying to increase the number of products he sells every week so he will get a promotion this year. What are accurate ways to describe this goal? Check all that apply. intermediate goal career goal educational goal financial goal long-term goal
Answer:
intermediate goal
career goal
Explanation:
A goal is a desired result am individual wants to achieve in the future. Goals are usually time bound, that is they are meant to be achieved in a given time frame.
In the given instance Reece is trying to increase the number of products he sells every week so he will get a promotion this year.
With regards to duration goals can be short term, intermediate, or long term.
His goal of increasing weekly sales is an intermediate one.
Career goals are those that are measured by level of achievement on one's job. Reece is looking at getting a promotion in this year.
A. Intermediate Goal
B. Career Goal
Edge 2021
The ability to continue after a disaster of some kind is a requirement of Security Rule. What item is considered part of the contingency plan or business continuity plan
Answer:
"Emergency mode operation plan" would be the correct approach.
Explanation:
The emergency method investigation strategy would be this same process improvement or business continuity strategy including its entire organization. Above such strategy is often utilized interchangeable terms or frustrated or perplexed with a crisis management plan, however, there's a significant difference.Which of the following represent features of continuing education? Check all of the boxes that apply.
not necessary for those with an advanced degree (MD or PhD)
can include self-study such as reading
usually required to maintain a license
often available from professional organizations
only available from universities
Answer:
b,c,d
Explanation:
"Continuing education (CE) is an essential part of a health science or technology career and can include all kinds of education, including self-study. CE is usually required to maintain a professional license."
Answer:
b, c, d
Explanation:
edge2021
Some employers offer forms of employer compensation in addition to pay these are usually things like healthcare retirement and paid vacation
Answer:
True
Explanation:
Often called employee welfare package, is a term that refers to all other forms of employer compensation in addition to their pay that is given by employers, sorely because they want to motivate them towards effective work performance.
Healthcare retirement benefits and paid vacation benefits are good examples of employee welfare package.
The internet enables companies to decrease their emphasis on traditional promo
Answer:
The internet has enabled companies to promote their business with listing key factors and market their products with special highlights.
Explanation:
Earlier businesses used to promote their products by door to door marketing. In this era of technology and advancement the business focus on distinct features of their product and promote the products by highlighting those distinct features which other products does not have. Consumers are impressed with the presentation style and it is easier for them to view the complete product details by sitting at home through internet.
Rosco owns a cola distributor in Germany. He wants to appeal to the local community: however, he wants to ensure that customers identify with
the product's reputation. He therefore believes ethnocentric staffing is the best staffing method for his company. Which advantage of
ethnocentric staffing will work for Rosco's business?
ОА.
It will help assemble a diverse management team with superior skills and knowledge.
OB. It will allow the managers to train on the company's business model and have control over the decisions made locally.
O c. It will allow using managers who already understand the local culture.
OD.
It will allow superior knowledge from both cultures.
Answer:
Not C
Explanation:
I guessed it and it was wrong
Ending assets for CompuHelp equal $650,000 and the beginning retained earnings account was $325,000. If net income during the period was $225,000 and dividends were $150,000, what were ending liabilities
Answer:
$250,000
Explanation:
The computation of the ending liabilities is shown below:
As we know that
Total assets = Total liabilities + stockholder equity
where,
Ending retained earnings = Opening retained earning + net income - dividend paid
= $325,000 + $225,000 - $150,000
= $400,000
Now the ending liabilities is
= $650,000 - $400,000
= $250,000
Which approach of the evolution of management thought attempted to explain the real issues facing managers and provide managers with tools to solve future problems?
The correct answer to this open question is the following.
Although there are no options attached, we can say the following.
The approach of the evolution of management thought attempted to explain the real issues facing managers and provide managers with tools to solve future problems is the quantitative approach to management.
This is correct because this management approach uses techniques that have quantitative advantages in the tools it uses. For instance, it includes numbers, statistics, mathematics models, and even some simulations for computer software that have helped managers and companies to make better decisions based on facts, numbers, probabilities, and forecasts, not only qualitative approaches.
In the corporate world, numbers can be trusted. That is why managers have to be constantly monitoring numbers in different ways to make forecasts and make the best decisions possible in an uncertain business world that faces many variants.
If nominal interest rates are 8% and there's a 3% inflation, what would you expect to to be the real growth of a bank account continue $1000?
Answer:
$50
Explanation:
The real rate of interest is the nominal interest rate adjusted for inflation.
I.e., real rate = nominal rate - inflation rate
real rate = 8% - 3%
=5%
The real growth of $1000 will be
=5/100 x 1000
=$50
Real growth will be by $50
PLZ HELP EXTRA POINTS!!!
Without freedom of expression ____.
A. Congress would have too much power
B. democracy could not exist
C. all kinds of unpopular ideas would become popular
D. the result would be a utopia
Answer:
A. Congress would have too much power
Explanation: I hope this helps :)
A country currently has a population of 200 million and an annual growth rate of 3.0%. If the growth rate remains constant, after 70 years, the population will be approximately:
Cash is an _____.
A) asset
B) expense
C) none of the above
(question is from small business entrepreneurship A)
A. Asset
Explanation:
-asset is a useful or valuable thing
An investor owning 400 shares of stock receives notice that the stock will be split. When the split is complete, the customer owns 1,200 shares of stock. The split must have been
Answer:
800....................
A farmer finds that when he produces more corn, he also has more corn stalks that he can then sell as decorative ornaments. To the farmer, corn and corn stalks are:
Answer:
"Complements in production" is the correct answer.
Explanation:
The changes throughout the demand through one counterbalance throughout manufacturing resulted in higher consumption of one another.
Complements instead in production however are commodities manufactured collaboratively from a certain revenue stream as well as input. This generally occurs when the revenue stream in the discussion has components that could be composed of certain commodities categories.An example of tangible capital is A) a restaurant's unsold, unopened cans of soda. B) an idea for a new business. C) the goodwill a firm has established through advertising. D) knowledge of how to program a computer.
Answer:
it should be either b or d i think
Explanation:
Someone you look up to? And why?
Answer:
I look up to elon musk. I feel like he's going to do the impossible and excited to what he will do next!
Answer: Oprah Winfrey
Explanation: She's inspiring and makes me wanna do good things in life
You normally stay at home on Wednesday nights and study. However, next Wednesday night, your best friend is having his big 21st birthday party. What might be the opportunity cost of going to the party
Answer:
My answer would be don't go, Since we are almost in the red positive for Corona, U might have a chance of catching it from her or the people at her party. On the other hand, u can do a virtual party over the phone/laptop. I understand it's difficult to avoid your bestfriend because of Corona, but technically it's for your own good. If it makes you feel better, I had to miss my Bestfriend B-Day because I was scared to get Corona.
Explanation:
ECONOMICS!! PLEASE HELP ME!!
Katie can mitigate the problem without alerting the new owners or let them know about this new disclosure and possibly delay or jeopardize the sale. Katie is now faced with a(n) ________ dilemma.
Answer:
Ethical
Explanation:
The ethical dilemma means the uncertainties form that developed due to violation of the moral standard that would be held in our life
It would be considered right when she tells to the client regrading the mice problem but she is discouraged as she know that if she do this than she would mess up with the sales that decrease the salary
So this given situation represent an ethical dilemma
Melissa writes checks to pay for her rent, utilities, and groceries, and she keeps a record of all these transactions in her check register. Keeping an accurate check register helps Melissa
Answer: Helps her keep track of where her money is going
Explanation:
One of the best way to keep record of expenditures is by tracking and placing carefully their transaction details and record. This helps in the area of accountability. Melissa does this to keep track of where her money is going so she can save and manage her resource properly.
Which of the following is an example of mass promotion?
O a. advertising
O b. telephone sales call
O c. personal selling
O d. all of the above
Answer:
probably a
Explanation:
i hardly see personal selling which eliminates d and c plus tellephone sales call doesnt reach as wide of an audience as advertising
Advertising is an example of mass promotion. Thus, option A is correct.
What is promotion?Promotion can be defined as a part where the companies or the sellers are making sure that the customers are aware of their product as well as its positions. This is done to make sure that the product or the services being purchased would improve and increase the revenue.
Advertising can be considered a part of mass emotions because it can be done by various means where it can be placed in visual and audio and oral forms.
This would mean that in mass promotion the advertisement can be done with the help of radio, television, the screens which are available also hoardings. So, the customers get attracted to it and would buy the product. Therefore, option A is the correct option.
Learn more about promotion, here:
https://brainly.com/question/26239758
#SPJ6
MARKING BRAINIEST
Type the correct answer in the box.
Spell all words correctly.
What does stand for in the formula to calculate moving averages?
The moving averages method of sales forecasting has the formula:
In this formula, stands for
Answer:
Sales
Explanation:
S stands for sales. The moving averages formula uses sales figures from the previous periods to forecasts future sales. For example,
say, sales for 2015 were 100; 2016 were 120; 2017 were 110; and 2018,..130. Using the formula, the forecast for 2019 will be
Forecast 2019 = Sales 2015 + Sales 2016+ Sales 2017+ sales 2019 / 4
Forecast 2019 = 100 + 120 +110 + 130 / 4
Forecast 2019=115
Answer:
"sales for the latest month"
Explanation:
I got it right :)
The SBA is a source of assistance that provides small businesses with the following
programs.
Education, Information, and Training
Federal Procurement
Voice for Small Business
Business Financing
Answer:
All of the above
Explanation:
SBA is an abbreviation for Small Business Association. The SBA is a US government agency mandated to promote economic growth through entrepreneurship. The agency supports the growth of small businesses through the provision of resources to help them start and become successful.
The Major ways in which the SBA supports small business include.
Education and trainingConnecting them to sources of affordable creditConnecting to government contractsOffering business adviseAnswer:
all of the above is correct! just took it.
Frederick works in a local government for a certain city. One his primary responsibilities is to check whether the city’s contracts, bids, and tax reports meet certain specific guidelines. Which government career role does Frederick perform.
Answer: B - City administrator
Explanation: took the plato test
my 10 year old sister looked up anime and she looked at b-o-obies and she just cried-
help..
What do people purchase as a form of risk management to protect themselves from losing a lot of money in the event something happens to them or their property?
1. Deductibles
2. Liability
3. Warranty
4. Insurance
Select the correct answer.
Which pricing strategy is a company using when it sells a printer at a low price but the ink cartridges designed for that model are relatively
expensive?
A promotional pricing
captive product pricing
C. product line pricing
D. product bundle pricing
E.
optional product pricing
Answer:
B.
Explanation:
Captive product pricing means the company baits you in to purchasing a seemingly cheap main product but the add-ons are expensive
Answer:
E
Explanation: Is that right
Sabrina makes $10 per hour at her job. She leaves two hours early to go see a movie. The price of the movie ticket is $10. What is the total opportunity cost of seeing the movie
Answer:
Opportunity cost= $30
Explanation:
Giving the following information:
Sabrina makes $10 per hour at her job. She leaves two hours early to go see a movie. The price of the movie ticket is $10.
The opportunity cost is the monetary value of choosing one option over another. In this case, we need to account for the 2 hours that she doesn't work and the cost of the ticket.
Opportunity cost= 2*10 + 10
Opportunity cost= $30
An economic principle states that the lower the price of a product, the greater the quantity consumers will wish to purchase. This principle is based on the critical assumption that