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Readme [11.4K]
2 years ago
13

If the demand for product x is inelastic, a 4 percent decrease in the price of x will.

Business
1 answer:
NeTakaya2 years ago
3 0

A 4 percent decrease in the price will lead to an increase in the quantity demanded by less than 4 percent.

<h3>What is demand?</h3>

Demand simply means the amount of goods and services that a buyer wants to buy at a particular price and time.

When the demand for product x is inelastic, a 4 percent decrease in the price of x will lead to an increase in the quantity demanded by less than 4 percent.

Learn more about demand on:

brainly.com/question/1245771

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Hank Itzek manufactures and sells homemade wine, and he wants to develop a standard cost per gallon. The following are required
Slav-nsk [51]

Answer: $4.140 per gallon

Explanation:

Costs including wastage for 210 gallons:

3,300 ounces of grape concentrate at $0.03 per ounce:

= 3,300\times\frac{0.03}{0.99}

= 100

357 pounds of granulated sugar at $0.36 per pound :

=  357\times\frac{0.36}{0.85}

= 151.2

294 lemons at $0.63 each =  294\times\frac{0.63}{0.70}

                                             = 264.6

840 yeast tablets at $0.28 each  = 840 × 0.28

                                                      = 235.2

1,050 nutrient tablets at $0.11 each  = 1,050 × 0.11

                                                           = 115.5

3,100 ounces of water at $0.001 per ounce = 3,100 × 0.001

                                                                         = 3.1

Hanks estimates that,

1% of the grape concentrate is wasted

15% of the sugar is lost

30% of the lemons cannot be used

Hence,

Cost for 210 gallons = 100 + 151.2 + 264.6 + 235.2 + 115.5 + 3.1

                                 = $869.6

Hence, cost per gallon = \frac{Cost\ for\ 210\ gallons}{210\ gallons}

                                      = \frac{869.6}{210}

                                      = $4.140 per gallon

5 0
3 years ago
Cashland's banking system recently crashed. This eventually led to companies being unable to borrow money to run their businesse
Andre45 [30]

Answer:

Deflation

Explanation:

According to my research on different studies conducted by economists, I can say that based on the information provided within the question this is better known as Deflation. This term refers to a decrease in general price level of goods and services because of a certain financial crash. Which in this scenario it was caused by the Cashland's banking system crashing.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

6 0
3 years ago
A bank has $8,000 in deposits and $6,000 in loans. it has loaned out all it can given the reserve requirement. it follows that t
True [87]
<span>The reserve requirement, which is also referred to as the cash reserve ratio, is 25 percent. This is calculated by subtracting the $6,000 loaned out from the bank's $8,000 in deposits, yielding a reserve of $2,000. The reserve requirement is calculated by dividing $2,000 by $8,000.</span>
4 0
3 years ago
McHale Enterprises has the following incomplete General Journal entry for the most recent pay date:
Andre45 [30]

Answer:pp

Explanation:

4 0
3 years ago
ignal mistakenly produced 1,175 defective cell phones. The phones cost $67 each to produce. A salvage company will buy the defec
erastova [34]

Answer:

Company shall rework on the cell phones.

Explanation:

In the given case we will do the comparison of the rework with the scrap.

In case of rework:

Total cost = $67 of manufacturing  + $90 of rework = $157 each unit

Selling price then would be = $134 each

Loss on per unit = $157 - $134 = $23 on each cell phone.

In case no rework is done and the mobile phones are sold in scrap then the cost associated = $67 each

Value for sale = $33 each

Loss per unit on such sale = $67 - $33 = $34 each unit.

Since there is plenty of idle capacity the company in order to decrease the loss from selling these defective cell phones, the company shall rework on the phones, as loss in this case will be $34 - $23 = $11 per cell phone less than the loss in case of scrap sale.

6 0
4 years ago
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