Answers
The demand for the firm's goods based on the diagram given and the current price is elastic.
Why is the price elastic?Demand is said to be elastic when quantity demanded decreases when prices increase, and vice versa.
Looking at the graph, if there is a price increase by management, the demand will decrease as shown by the space on the blue line above quantity B.
If prices reduce however, the demand increases as shown by curve D₂.
In conclusion, the demand is elastic.
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Related Questions
For the past year, Hawkeye, Inc., had a cost of goods sold of $60,382. At the end of the year, the accounts payable balance was $13,489. How long on average did it take the company to pay off its suppliers during the year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
Answers
It will take the company (Hawkeye, Inc.) to pay off its suppliers during the year 81.47 days
What is payable turnover?The accounts payable turnover is what measure how fast a business makes payments to creditors and suppliers in which it grant credit.
Payables turnover
= Cost of goods sold / Accounts payable
= $60,382 / $13,489
= 4.48 times
Now we can use the payables turnover to find the days' sales in payables as:
Days' sales in payables
= 365 days / Payables turnover
= 365 days / 4.48
= 81.47 days
Hence, it will take the company to pay off its suppliers during the year 81.47 days
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which is the best definition of the purpose of a business?
Answers
Answer:
The purpose of a business is to offer value (through products and/or services) to customers, who pay for the value with cash or equivalents.
It could also mean that people who create businesses want to sell their products to make money.
activities your consultancy would create to help promote the Veldskoen by DHL.
Answers
You work for a Public Relations Consultancy that has been approached by the German company DHL to assist with their Public Relations activities in Southern Africa.
What is average of numbers on b4:b12
Answers
The average of numbers on b4:b12 is the sum of (b4:b12)/9.
What is an average?An average is a central value of some numbers. An average value can be referred to as the mean, median, or mode because an average typically represents a group of numbers (or data set).
Thus, when the numbers contained in the data set, b4:b12, are summed and divided by 9, the arithmetic average (mean) is found. The mode can also be discovered in the data set by looking for the number that appears most among the nine numbers.
Another average value that we can compute is the median, which refers to the middle number 8 (b8) between b4 and b12, especially after they are sorted in ascending or descending order.
Thus, the average of numbers on the b4:b12 range can simply mean the sum of (b4:b12)/9.
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Fast Freight, an interstate trucking company, has had to raise price three times in the past year, significantly reducing sales
Answers
There's an increase in the fuel price which led to the increase in operating cost of the Fast Freight.
What is operating cost?It should be noted that operating costs are the costs that are incurred by a business during production.
From the complete question, there's a increase in the fuel price which led to the increase in operating cost of the Fast Freight.
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Discuss ways a regional bank could effectively use the Internet to recruit Dank
tellers.
Answers
Recruitment using job portals and career websites is a frequent approach for businesses to find new employees. The bank's HR department can use these websites to publish its job openings and qualifying requirements. Nowadays, social media is also commonly utilized for job postings. Blogs and e-videos may also be used to recruit new staff for a company.
Explain five reasons that may cause a company to redeem its own shares
Answers
-The disadvantage of buybacks is that they are frequently financed with debt, putting a burden on cash flow.
-Stock repurchases can have a modestly favorable impact on the economy as a whole.
The consumer surplus will _____ by _____ when the United States engages in international trade and the international price for MP3 players settles at $50.
Answers
Answer:
tnetn
Explanation:eturyumryu
They went for a bicycle ride (affirmative)
Answers
Answer:
???
Explanation:
I couldn't give you an answer. you didn't ask an actual question
Suppose that Fritz Kron was worried about organizational silence. He is concerned that senior executives aren’t hearing about workplace issues because people believe that others are already working on fixing the problem, or because people are afraid of giving managers information they don’t want to hear. Which of the following tools could Fritz use to help overcome organizational silence? Check all that apply.
Answers
For Fritz to overcome organizational silence, He must set up a proper communication channel.
What are workplace issues?Workplace issues are incidents that are deemed or considered wrong by the individual who is experiencing them observing the problem.
Generally, Collecting information creates a never-ending interpretation problem. collecting the same information through multiple channels may alter its interpretation by changing its meaning.
In conclusion, The medium through which a message is transmitted to another person is referred to as a communication channel.
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The chart shows a combined supply and demand schedule. A 3-column table has 5 rows. The first column is labeled Price per Pair of Running Shoes with entries 45 dollars, 75 dollars, 100 dollars, 125 dollars, and 150 dollars. The second column is labeled Quantity Demanded with entries 100, 80, 60, 40, 20. The third column is labeled Quantity Supplied with entries 40, 50, 60, 70, 80. According to this table, what will happen when the price of a pair of shoes rises from $100 to $125? The cost to make a pair of shoes will rise. A scarcity of shoes will result. Profits from selling shoes will increase. Consumers will want to buy fewer pairs of shoes.
Answers
Profits from selling shoes will increase if the price of a pair of shoes climbs from $100 to $125. As a result, option (c) is the correct answer.
What is the shift in shoe price denote?When the price is $100, the quantity demanded equals the quantity given, which equals 60.
When the price is $125, the number required is 40 and the number given is 70.
Earnings if sold for $100 and earnings based on a $125 sale.
[tex]100 \text{ x } 60 = 6,000\\125 \text{ x } 70 = 8,750[/tex]
Profit will now rise in lockstep with earnings per pair of shoes.
Therefore, the answer is, that profits from selling shoes will increase, out of the possibilities given.
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A manufacturing division has an average assets of $1,800,000 and income of $720,000. The division's return on investment is
Answers
Answer:
40%
Explanation: 720,000/1,800,000 = .4 x 100 = 40%
If Henry and Kate's Company has $300,000 of sales revenue, pays $50,000 in dividends, and has net income of $100,000, how much were the expenses for the year?
Answers
Answer:
$205,000
--
Stockholders' equity = ($300,000 - $180,000) + ($375,000 - $240,000) - $50,000.
Explanation:
SE = (Total Assets - Total Liabilities) + (Revenues - Expenses) - Dividends
What's the taxable equivalent yield on a municipal bond with a yield to maturity of 3.9 percent for an investor in the 35 percent marginal tax bracket
Answers
When a person has a marginal tax bracket of 35%, their taxable equivalent yield to a municipal bond is 6%.
What is the taxable equivalent yield?It can be found by the formula:
= Municipal bond / ( 1 + tax rate)
Solving gives:
= 3.9% / ( 1 - 35%)
= 3.9% / 0.65
= 6%
In conclusion, a 6% return would be an appropriate taxable equivalent yield.
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What button is used to format table text to make it interesting
Answers
Answer:
The table style 'Shading' button.
The charge by one department to another for goods and services delivered to the department is called what?
Answers
Answer:
Transfer pricing is an accounting practice that represents the price that one division in a company charges another division for goods and services provided.
Ken, a real estate agent, assures Lily that a certain parcel of commercial property fronts on the most highly trafficked street in Metro City. Lily buys the property and then discovers that the street has no more traffic than any other in its vicinity. Lily may recover damages for
Answers
Lily is a victim of fraudulent misrepresentation and may recover damages for her down payment.
What is Fraud?This refers to the use of false pretexts to get something from someone or close a deal and is considered a criminal offense.
Hence, based on the fact that Ken, the real estate agent was not truthful in his assertion about the traffic rate in the property he was about to sell, then Lily is a victim of fraud and may recover damages for her down payment
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Why should an entrepreneur do a feasibility study for starting a new venture
Answers
Answer:
Because a feasibility study assists entrepreneurs in understanding the market, the budget needed to launch a company, the liquidity factors of a business endeavor, and the return on investment in the initiative.
On July 1 Plum Company paid $7,500 cash for management services to be performed over a two-year period. On July 1, Plum should record:
Answers
Based on the cost of the management service, Plum Company on July 1 should record A debit to a prepaid expense and a credit to cash for $7,500.
What should Plum record?The entire amount of $7,500 is being paid for a service that has not yet happened so they will go to the Prepaid expense account. As this is an expense, it is debited when it is increased.
Cash should then be credited by the same amount to show that it is reducing.
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a friend is keen to get a start in real estate and offers to work weekends for you, free of charge, as your assistant to learn the industry. Explain what you would do and why.
Answers
Hiring someone from family or friends as a real estate agent can entail some negative situations like contractual conflicts and biased outlook.
What is the role of the real estate agent?It is the professional or company responsible for connecting buyers and sellers for the sale and rental of properties and representing them in legal negotiations.
Therefore, as it is a career of great responsibility, it is essential that the professional is qualified to carry out the best opportunities without being biased by any factor.
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What happens if you still have a
balance on your credit card AFTER the
company starts charging you interest?
A. The bank will extend the 0% APR so you don't pay
interest.
B. The bank will offer you a 0% so they make no money
off you.
C. The bank will make your interest payments for you.
D. The bank will make money from the interest fees you
pay.
Answers
Answer:
its A.
Explanation:
You know these facts about a company’s prior calendar year: Beginning inventory: 100 units at $10 each. Ending inventory: 50 units at $9 each. Inventory purchased for resale during the year: $2,000. What can you calculate using this information?
Answers
The item that can be calculated using this information is cost of goods sold.
What is cost of goods sold?Cost of Goods Sold (COGS) is what measure the direct cost incurred in the production of any goods or services. it is the cost of acquiring or manufacturing the products that a company sells during a period.
Cost of goods sold includes
The expenses of buying and preparing an item for saleIt is used to figure gross profit.It is an expense reported on the income statement and it is also called cost of sales.Hence, the item that can be calculated using this information is cost of goods sold.
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Examples of stress include:
A) when you are happy
B) when you are running out of time to complete a task
C) when you are studying for a test, but forgot your notes
D) when somebody gives you a compliment
E) when you lose a friend
Answers
Answer:
B, C, E
Explanation:
All of these scenarios are negative and can put you in a stressful situation.
the output of a process is valued at $110 per unit. the cost of labour is $50 per hour including benefits
Answers
Based on the labor cost, and output of the process, the multifactor productivity for the week is 3.06.
What is the multifactor productivity for Week 1?This can be found by the formula:
= Cost in week 1 / Value of output in week 1
Cost in week 1:
= Labor + Material + Overheads
= 12,195 + 21,392 + 8,546
= $42,133
Value of product:
= 110 x 1,173 units
= $129,030
Multifactor productivity is:
= 129,030 / 42,133
= 3.06
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ASSIGNMENT TEMPLATE
Identify one economic trend that is influencing Charles and Ebony's budget. Then, in your
own words, explain how it is connected with what you see happening in their
expenditures. (Your response should be 4-5 sentences.)
Remember, if you use any information or ideas from the webtext, be sure to add a citation
(and include quotation marks around any exact wording).
Answers
One economic trend influencing Charles and Ebony's budget, especially their inability to afford goods and services, is inflation or rising costs.
What is an economic trend?An economic trend is a pattern of economic activities, which are usually formed and interpreted by economists from some sets of data.
Inflation is defined as the general increase in the prices of basic goods and services, like transportation, health care, food, and housing.
Inflation digs holes in the purchasing power of individuals, businesses, and governmental bodies in an economic system.
Thus, one economic trend influencing Charles and Ebony's budget, especially their inability to afford goods and services, is inflation or rising costs.
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Hi I need help please!!
Answers
A the answer bro or girl ok
Answer:
is the top or bottom question should answer?
A popular, local coffeeshop in one of the suburbs of New York City (NYC) estimates they use 3,500 pounds of coffee annually. They have to determine how many pounds to order each time in order to minimize their total annual cost. a. Determine the optimal size of the order assuming an EOQ model with a holding cost of $10 per pound annually and an ordering cost of $100. (Do not round intermediate calculations. Round your answer to 2 decimal places.) b. The owner has recently opened another store of the same size in New York City; however, the demand for coffee is increased to 4,000 pounds annually, and the holding cost is $60 per pound. Those numbers are much higher as is the cost of real estate in NYC. The owner places orders of the same size as the first store because they are the same size stores. How much will the total cost be in the new coffeeshop
Answers
a) The determination of the optimal size of the order assuming an EOQ model for the local coffee shop is 265 pounds.
b) The total cost in the new coffee shop where the demand for coffee increased to 4,000 pounds at an order size of 265 pounds per order (assuming a unit cost of $3 per pound) is $253,500.
What is the EOQ Model?The economic order quantity (EOQ) model calculates the ideal order quantity a company should purchase to minimize inventory costs such as holding costs, shortage costs, and order costs.
It is determined using the following model:
EOQ = square root of: 2 (ordering costs)(demand rate) / holding costs.
Thus, the EOQ model can be worked out as follows:
Determine the demand units.Determine the ordering cost.Determine the holding cost.Multiply the demand by 2.Then multiply the result by the order cost.Divide the result by the holding cost.Data and Calculations:a) The annual demand for coffee = 3,500 pounds
Holding cost per pound = $10
Ordering cost = $100
EOQ = square root of: 2 ($100 x 3,500) / $10
= 265 pounds
The annual demand for coffee = 4,000 pounds
Holding cost per pound = $60
Ordering cost = $100
EOQ (Order size) = 265 pounds
Assumed unit cost per pound = $3
The total cost in the new coffee shop = $
Annual holding cost = $240,000 ($60 x 4,000)
Annual ordering cost = $1,500 ($100 x 4,000/265)
Annual purchase cost = $12,000 (4,000 x $3)
Total costs = $253,500
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Were you able to retrieve the data ______ the hard drive of the damaged computer? Group of answer choices. from. from off of. off of. off
Answers
Answer:
Of
Explanation:
Since there is a data form the hard drive
Were you able to retrieve the data off the hard drive of the damaged computer? Thus, option D is correct.
What is a computer?A computer can be defined as the electronic device which processes various things. In this a binary system is being used which has only two variables zero and one.
All the coding and decoding is done on the basis of these two binary numbers. One can use various algorithm on a computer. If there is a hard drive that is being processed then the material or the information can be easily retrieved from the same.
A professional backup and recovery service might retrieve documents from a failing hard drive. Restoration software cannot recover data from malfunctioning hard drives because it needs permission to the hard disk from the operating system in order to do so.
Therefore, option D is the correct option.
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When there is no formal, written partnership agreement, and agreement to form a partnership is enforceable. True False
Answers
When there is no formal, written partnership agreement agreement to form a partnership is not enforceable. i.e False.
What is partnership?Partnership involves two or more people coming to terms over a business idea or strategy.
This partners have a mutual agreement to pull their resources together for profit.
Therefore, When there is no formal, written partnership agreement to form a partnership is not enforceable. i.e False.
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1. Why were many large discount retailers slow to sell online in the early days of electronic commerce?
Answers
They are slow to sell online because the retailers were adamant to implement online sales at that time because they had huge investments in their physical stores.
What are discount stores in terms of retailing?The term discount retailers is known to be used in discount store, where the merchandiser or a retail store are known to often sells products at prices lower than other traditional retail shores.
Note that some discount stores are like department stores as they are known to offer a wide range of goods at cheap prices.
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