Answer:
To say that people respond to incentives is to say that:
changes in benefits or changes in costs influence people's decisions and their behavior.
Explanation:
Incentives are the rewards (benefits) or punishments (costs) that shape people's choices and decisions. Changes in incentives, whether monetary or non-monetary, drive people's decisions and behavior. When opportunity costs change, incentives change, and people's choices and behavior also change. The changes that cause people to change their behavior as a result of changes in incentives can be described in predictable ways.
Answer:
The above elasticity suggests that by raising the curb parking price by 10% reduces the time drive are willing to cruise by only 7.1%. also the increase of curb pricing would make elasticity greater that shows that curb park pricing by 1% reduces the drivers that are willing to cruise by only 2.3 %
Explanation:
Solution
Given that:
Now, when we look at the papers designed by the economists for the various formulas of calculating elasticity related to six factors examples like, the price of off street parking, the price of fuel, the number of person or individuals in a car, the price of curb parking, time value, we would notice that the formula for calculating cruising time elasticity with that of curb parking price is stated below:
E = - p/(m-p)
E = -5/12-5
E = -5/7
=-0.714
The above elasticity states that by raising the curb parking price by 10% reduces the time drive are willing to cruise by only 7.1%
Now,
The new elasticity = -7/(10-7)
=-7/3
=-2.33 or 2.33%
It suggests that the increase of curb pricing would make elasticity greater that shows that curb park pricing by 1% reduces the drivers that are willing to cruise by only 2.3 %
Answer: initially Sam gross profit would drop. But overtime when he starts gaining customers in his new branch added to the already existing customers in his old branch there would a very large gross profit increase.
Explanation: Gross profit is the percentage of revenue a company retains after accounting for cost of goods/services.
In this case payment of staffs in both the old and new branches would be accounted for, with the new branch still very much dependent on the old branch for payment of staff until it can get its own customers, only then would the new branch be able to be self reliant and also make profit.
Answer:
D. Ask someone for the accountants name.
Explanation:
I say (D) because you only been working there for a week you just got hired so the other employees there shouldn't mind helping you out.
