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2 years ago

We would expect the cross elasticity of demand between dress shirts and ties to be?

1 answer:

7 0

Dress shirts and ties are complementary goods and we know that complementary goods have a negative cross-price elasticity of demand which means an increase in the price of dress shirts will decrease the demand for ties (negative cross-price elasticity of demand)

Elasticity is the ability of a deformed body of material to return to its original shape and size when the force causing the deformation is removed. Bodies with this ability are said to behave (or react) elastically.

Consumer durables are an example of demand elastic products. Things you rarely buy, like a washing machine or a car, that you can move when the price goes up. For example, car discounts have been very successful in increasing car sales through price reductions.

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In the context of the 5S principles, _____ means to keep a process going through training, communication, and organizational str

alina1380 [7]

In the context of the 5S principles, <u>sustain </u>means to keep a process going through training, communication, and organizational structures.

<h3>What is 5S principles? </h3>

5s principles can be defined as the principle that help to show the appropriate way a work place or work environment should be or should be arranges .

The 5S principle are:

Sort
Set in order
Shine
Standardize
Sustain

Therefore In the context of the 5S principles, <u>sustain </u>means to keep a process going through training, communication, and organizational structures.

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5 0

2 years ago

Fill in the missing amounts.

Marrrta [24]

Answer:

Find my analysis below

Explanation:

The gross profit rate is the portion of net sales earned as gross profit prior to considering operating expenses as indicated by the formula below:

gross profit rate=gross profit/net sales

The profit margin measures the net income as a percentage of net sales

profit margin=net income/net sales

Crane company Sheridan company

Sales revenue $94,200 $103,000

sales returns and allowance $14,000 $3,000

Net sales $80,200 $100,000

cost of goods sold $54,200 $50,000

Gross profit $26,000 $50,000

Operating expenses $14,700 $34,400

Net income $11,300 $15,600

Gross profit rate=gross profit /net sales 32.4% 50.0%

Profit margin=net income/net sales 14.1% 15.6%

Crane company Sheridan company

Sales revenue 94200 =F5+F4

sales returns and allowance =E3-E5 3000

Net sales 80200 100000

cost of goods sold 54200 =F5-F7

Gross profit =E5-E6 50000

Operating expenses 14700 =F7-F9

Net income =E7-E8 15600

Gross profit rate=gross profit /net sales =E7/E5 =F7/F5

Profit margin=net income/net sales =E9/E5 =F9/F5

7 0

3 years ago

Normal and inferior goods are differently impacted by recessions. Examples include new cars versus fast food. The textbook examp

Darina [25.2K]

Answer:

research four other examples of inferior goods.

There are many examples of inferior goods. Inferior goods are al those goods whose demand rises in times of economic recession. Some examples are:

Cheap food substitutes like supermarket coffee, instantaneous ramen, or canned vegetables.

Cheap clothes.

Flights in low-cost airlines.

Consider the impact of economic recessions and expansions on normal goods.

Economic recessions impact normal goods negatively because people have less income to spend, and they opt to substitute the normal goods for inferior goods.

discuss how revenues of inferior goods producers are expected to be affected by economic recessions and expansions.

In economic recessions, revenues for producers of inferior goods are expected to rise because demand for inferior goods grows. However, because inferior goods are precisely cheaper, this does not necessarily mean that every inferior good producer will make a lot of money.

In economic expansions, revenues for producers of inferior goods will fall, because people, with more income, will flock to normal goods or even luxury goods.

5 0

3 years ago

A car dealership union negotiates a contract that dramatically increases the salaries of all salesmen. If one of the salesmen is

Misha Larkins [42]

I think the most appropriate answer would be "a car dealership salesman" would be the opportunity cost.

I hope it helped you!

8 0

4 years ago

It is said that kone is embedding intelligence across its supply chain and enables smarter buildings. explain.

alexandr402 [8]

KONE started the next stage of its strategy, Sustainable success with consumers, in January 2021. With innovative intelligent solutions, we will increase the value we provide for clients during the four-year strategy term and further integrate sustainability into all of our activities.

Core goods and services: through connectivity and adaptability, they meet the unique demands of each client for a seamless experience. All goods and services shall be made as cost-effective and environmentally friendly as possible.

In order to provide customers with value in new ways, new customer value solutions are being developed and integrated with existing core products and services.

Smart and sustainable cities: become the go-to partner for the construction of smart and sustainable cities.

In this extremely fragmented and fast-growing economy, the service industry in China is becoming the undisputed market leader.

Core values and concepts form the foundation of our culture. We never err on the side of our core values. They consist of sustainability, quality, and safety. The core of our culture is comprised of our values, which stand for the attitudes and actions that KONE wants to encourage.

To learn more about Kone from the given link.

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8 0

2 years ago