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2 years ago

What pricing strategy could work well in any market, primarily by generating buyer interest?

1 answer:

3 0

Any market could benefit from the pricing approach known as price elasticity of demand, particularly if it can attract customers.

How a change in price impacts consumer demand is assessed using the price elasticity of demand.

A product is deemed inelastic if people continue to buy it in spite of a price increase (such as with cigarettes and fuel).

Contrarily, elastic goods are subject to price changes (such as cable TV and movie tickets).

The formula: % Change in Quantity % Change in Price = Price Elasticity of Demand can be used to determine price elasticity.

You can determine whether your product or service is responsive to price changes using the idea of price elasticity. Your product should ideally be inelastic, meaning that demand won't change even if prices do.

Learn more about price elasticity of demand here.

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Answer:

a. gross income test

Explanation:

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3 years ago

Perine Company has 2,000 pounds of raw materials in its December 31, 2016, ending inventory. Required production for January and

nexus9112 [7]

Answer:

Budgeted purchase for January = $48,000

Explanation:

Opening stock of raw material = 2,000 pounds

Requirement for January = 4,000 units $\times$ 2 per unit = 8,000 units

Also provided that inventory upto 25% of next month requirement is to be held, that is for 5,000 units of finished goods 5,000 $\times$ 2 = 10,000 units $\times$ 25% = 2,500 units, of raw material is required.

Total purchase for January = Closing requirement + Current month requirement - Opening Stock = 2,500 + 8,000 - 2,000 = 8,500 units to be purchased

Total purchase cost = 8,000 units $\times$ $6 = $48,000

Final Answer

Budgeted purchase for January = $48,000

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3 years ago

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tia_tia [17]

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Unearned Service Contracts Revenue = $330,000

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3 years ago

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3 years ago

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Naddik [55]

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Teaching or asking a study partner the questions.

Explanation:

When you teach someone you take in the knowledge better and get to help someone else out.

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3 years ago