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3 years ago

Consumers are required to apply their skill or analytical or creative thinking to try to win a prize in a(n)

Business

1 answer:

oee [108]3 years ago

7 0

Consumers are required to apply their skill or analytical or creative thinking to try to win a prize in contests.

Analytical or creative thinking:

While creative thinking is occasionally referred to as "lateral" thinking, analytical thinking is also known as logical thinking. Others go further to highlight the idea by comparing it to whether thinking is more left-brain (analytical) or right-brain (creative).

Converging on facts, data, knowledge, judgment, experience, and wisdom in quest of the best answer is known as analytical thinking. Diverging one's thinking to consider a wide range of possibilities is the act of being creative.

It's common for people to identify themselves as either analytical or creative thinkers, and to some extent, this is true because most people tend to lean more toward one or the other. But skills are frequently less natural than people believe.

Learn more about Analytical or creative thinking here:

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"Charles Dow was the original editor of the Wall Street Journal. He was the originator of ""Dow Theory,"" which holds that the

Zepler [3.9K]

Answer:

Answer is explained in the attachment.

Explanation:

Download docx

6 0

4 years ago

Refer to the demand schedule below: Price ($) Quantity demanded 80 0 70 50 60 100 50 150 40 200 30 250 20 300 10 350 0 400 a. Su

snow_tiger [21]

Answer:

a. inelastic

increases

b. inelastic

increases

c. elastic

decreases

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes. An increase in price would lead to decrease in total revenue

Demand is inelastic if a small change in price has little or no effect on quantity demanded. The absolute value of elasticity would be less than one. An increase in price would increase total revenue

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.

Infinitely elastic demand is perfectly elastic demand. Demand falls to zero when price increases

Perfectly inelastic demand is demand where there is no change in the quantity demanded regardless of changes in price.

Elasticity when price increases from $10 to $20 : -0.143 / 1 = -0.143

Percentage change in quantity demanded = (300 / 350) - 1 = -0.143

Percentage change in price = (20 /10) - 1 = 1

Demand is inelastic

Elasticity when price increases from $30 to $40 : -0.2 / 0.33 = 0.6

Percentage change in quantity demanded = (200 / 250) - 1 = -0.2

Percentage change in price = (40 /30) - 1 = 0.33

Demand is inelastic

Elasticity when price increases from $50 to $60 : -0.33 / 0.2 = 1.65

Percentage change in quantity demanded = (100 / 150) - 1 = -0.33

Percentage change in price = (60 /50) - 1 = 0.2

Demand is elastic

8 0

3 years ago

Ok guys i hope this question isn't to hard or easy so heres the question.≥3≤

ddd [48]

The answer is C which you did spell wrong but that is ok

7 0

3 years ago

Read 2 more answers

The annual interest rate on a credit card is 13.99%. If a payment of $400.00 is made each month, how many months will it take

romanna [79]

Answer:

There will be 7 months of repayment for fully paying-off the outstanding amount.

Explanation:

We apply the present value formula to calculate the number of month it takes to paid off the outstanding amount.

We have:

Monthly payment = $400; Discounting period = number of months needs to paid off the amount; Discount rate = 13.99%/12

So, we have: 2,455.44 = [400/(13.99%/12)] x [1 - (1+13.99%/12)^(-n)] <=> [1 - (1+13.99%/12)^(-n)] = 0.071566 <=> (1+13.99%/12)^(-n) = 0.928434 = <=> n = 6.4

=> There will be 7 months of repayment for fully paying-off the outstanding amount.

5 0

4 years ago

[The following information applies to the questions displayed below.]

Orlov [11]

Answer:

Pose-for-Pics

Effects on the accounting equation:

Assets = Liabilities + Equity

Aug 1 Cash +$9,000 Equipment +$38,700 = M. Harris, Capital +$47,700

Aug 2 Cash -$2,300 Prepaid Insurance +$2,300

Aug 5 Cash -$1,710 Supplies +$1,710

Aug 20 Cash +$2,650 = Revenue +$2,650

Aug 31 Cash -$870 = Utilities Expense -870

Total assets $49,480 = Total equity $49,480

Explanation:

a) Data and Analysis based on the accounting equation:

August 1 Cash $9,000 Equipment $38,700 M. Harris, Capital $47,700

August 2 Prepaid Insurance $2,300 Cash ($2,300)

August 5 Supplies $1,710 Cash ($1,710)

August 20 Cash $2,650 Service Revenue $2,650

August 31 Utilities ($870) Cash ($870)

8 0

3 years ago