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soldi70 [24.7K]
2 years ago
6

If washburn guitars were to lower the price of the maya pro dd75 to $2,499 from $2,699, sales of the guitar would increase 30 pe

rcent. This illustrates:.
Business
1 answer:
Vikki [24]2 years ago
8 0

The effect of the decrease in the price of the guitars illustrates an elastic demand.

<h3>What does the price change illustrate?</h3>

The first step is to determine the percentage change in the price of the guitars.

Percentage change in price = (2499 / 2699) - 1 = -0.074 = -7.4%

Now, determine the price elasticity of demand =30 /  -7.4% = -4.1

The coefficient of elasticity is greater than 1 in absolute terms, thus the demand is elastic.

To learn more about price elasticity of demand, please check: brainly.com/question/18850846

#SPJ1

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Mannarelli Corporation uses the FIFO method in its process costing system. Operating data for the Casting Department for the mon
Serjik [45]

Answer:

$ 5.34

Explanation:

Calculation for cost per equivalent unit for conversion costs for September

First step is to find the Equivalent units of production

To complete beginning work-in-process:

Conversion 12,000

[15,000 units × (100%-20% )]

Units started and completed 65,000

(89,000-24,000)

Ending work-in-process

Conversion 21,600

(24,000 units × 90%)

Equivalent units of production 98,600

Second step is to calculate the Cost per equivalent unit using this formula

Cost per equivalent unit =Cost added during the period ÷Equivalent units of production

Let plug in the formula

Cost per equivalent unit = $526,524÷98,600

Cost per equivalent unit = $5.34

Therefore The cost per equivalent unit for conversion costs for September is closest to $ 5.34

7 0
3 years ago
A firm has current liabilities of $500, a current ratio of 1.5, and a quick ratio of 1.1. calculate the level of inventory for t
SCORPION-xisa [38]

The inventory level will be used by an inventory manager to regulate the optimal time for manufacturing, if they are handling a manufacturer's warehouse, or to demand more if the product is being stored as stock at a store.


To solve this:

Get first the Current Assets this solved by multiplying the current liabilities to the current ratio.

CA = $500 (1.5) = $750


Then get the inventory level by multiplying the current asset to the product of the current liabilities and quick ratio.

Inventory level = $750 (500 x 1.1) = $412,500

4 0
3 years ago
Using the following routing information and a From-To Chart, determine the total flow efficiency of the parts assuming an alphab
frosja888 [35]

Answer:

hello your question is incomplete attached below is the complete question

answer: 28.12%

Explanation:

The first table is the allotting of relative weighted value in from to chart and also finding the Total.

The second table is found by multiplying 1-times cell distance in the upper 2-times with cell distance in lower triangular values.

Hence Flow efficiency = (Total / penalty ) * 100

                         = ( 36 / 128 ) * 100 = 28.12%

7 0
3 years ago
The first step in the rational decision-making model is to:
DerKrebs [107]
I would say define the situation. 

8 0
4 years ago
How long is the Amazon Prime free trial?
kompoz [17]
It is at a 30day free trail
4 0
3 years ago
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