Cross price elasticity refers to the measure of responsiveness of the quantity demanded of a product to a change in price of another good.
From the question given above,
cross price elasticity = -20% / 10% = -2.
The cross price elasticity for the goods above is - 2. Which means that the goods are not substitutes.
A positive cross price elasticity which is greater than zero means that the goods are substitutes.
Answer:
John C. Bogle is the founder of the group however it is owned by its customers/clients through the funds managed by the company.
It allows the company to exhibit extra drive and zeal to grow its customer base for future purpose. This is because of the company being highly dependent on its customers for its sustainability.
Answer: 13.88%
Explanation:
The cost of equity can be used along with the variables given to calculate the price of a share using the Gordon Growth model so this can be remodeled to solve for the cost of equity.
Price of stock = (Dividend * (1 + growth rate)) / (cost of equity - growth rate)
35 = (2.96 * (1 + 5%)) / (cost of equity - 5%)
35 = 3.108 / (cost of equity - 5%)
(cost of equity - 5%) * 35 = 3.108
Cost of equity - 5% = 3.108 / 35
Cost of Equity = (3.108 / 35) + 5%
= 13.88%
Answer:
$160,300
Explanation:
Calculation for what The contribution margin for Sam's Bookstore for the first quarter is:
Sales revenue $ 930,000
Less: Variable costs
Cost of goods sold $ 655,000
Variable selling expenses ( 930000/60)*5 $ 77,500
Variable administrative expenses (930,000*4%) $ 37,200
Total variable expenses $769,700
Contribution margin $160,300
($930,000-$769,700)
Therefore The contribution margin for Sam's Bookstore for the first quarter is:$160,300
Rudy files a suit against shakes & shingles, roofing contractor, inc., under the doctrine of promissory estoppel. rudy must show that
He justifiably relied on Shakes & Shingles' promise to his detriment.
What is Promissory estoppel?
- Within contract law, promissory estoppel alludes to the convention that a party may recuperate on the premise of a guarantee made when the party's dependence on that guarantee was sensible, and the party endeavoring to recoup adversely depended on the guarantee.
- An agreement made by promissory estoppel will typically have the same binding effects on parties that a valid contract would.
- If a party breaches an obligation created by promissory estoppel, a court can choose to assign either reliance damages or expectation damages.
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