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1 year ago

Why is the price elasticity of demand for coca-cola greater than the price elasaticity of deman for soft drinks generally?

1 answer:

7 0

A soft drink's price elasticity of demand is lower than Coca-Cola's, which is more sensitive to price. This is due to the ease with which consumers can switch from Coca-Cola to other comparable soft drink alternatives, such as Pepsi.

However, it would be challenging to replace soft drinks as a whole with alternative products. The price elasticity of demand for soft drinks, in general, is lower than the price elasticity of demand for Coca-Cola because there are no other close substitutes for them.
The quantity required of a thing or service changes in response to a change in the product's price, and this is measured by the price elasticity of demand. It is computed by subtracting the product's price change from the quantity demanded, divided by the product's price change.
Because the quantity of Coca-Cola products demanded frequently changes when prices vary, these products are thought to have an elastic demand.

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The demand for labor curve shows:a. an inverse relationship between the real wage and the amount of laborhired.b. a positive rel

ankoles [38]

Answer:

The correct answer here is d.

Explanation:

Real wage is the nominal wages adjusted for price changes. It reflects the purchasing power earned by the workers.

There will be a direct and positive relationship between real wages and number of workers who are willing to work. This means when there is an increase in the real wages, more workers will be willing to work because they will be earning more. Reverse will be the situation in case of reduced real wages.

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3 years ago

What is the difference between patronage and the merit principle?

alexdok [17]

Patronage principle based its hiring and promotion system on political reasons while the merit principle employed the idea that hiring should be based on entrance examination and promotion. One of the major disadvantage of the patronage principle is that, it may end up employing people who are not qualify for the job. Merit principle choose based on qualifications.

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3 years ago

g "With respect to the types of information systems used in organizations, financial, operations, and human resource management

34kurt

Answer:

enterprise resource planning.

Explanation:

Enterprise resource planning involves management of main business processes and usually involves use of software. ERP supports similar processes based on the department it is deployed to.

For example ERP can be set up in a company to define various functions of human resources, accounting, amd operations.

The software used for each division will be tailored to their needs. Operations will be more towards everyday processes of production and customer service, while for human resources it will support more of data analysis for effective people management and performance related activities.

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3 years ago

Mr. Ballard retired in 2018 at age 69 and made his first withdrawal of $35,000 from his traditional IRA. At year-end, the IRA ba

serg [7]

Answer:

Contributions amounting to $320,000 were non deductible.

First year of withdrawal:

Taxfree withdrawal % = Uncovered Investments / Current year value x 100

Taxfree withdrawal % = [$320,000 / ($441,000 + $35,000)] x 100

Taxfree withdrawal % = [$320 / $476,000] x 100

Taxfree withdrawal % = 67.23%

Amount of taxfree withdrawal = 67.23% x $35,000

Amount of taxfree withdrawal = $23,530.5

Taxable amount = Total Withdrawal - Tax free withdrawal

Taxable amount = $35,000 - $23,530.5

Taxable amount = $11,469.5

Second year of withdrawal:

Taxfree withdrawal % = [($320,000 - $23,530.5) / ($407,000 + $60,000)] x 100

Taxfree withdrawal % = [$296, 469.5 / $467,000] x 100

Taxfree withdrawal % = 63.48%

Amount of taxfree withdrawal = 63.48% x $60,000

Amount of taxfree withdrawal = $38,088

Taxable amount = $60,000 - $38,088

Taxable amount = $21,912

$35,000 would be included in taxable income in first year and $60,000 would be included in taxable income in second year.

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3 years ago

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riadik2000 [5.3K]

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3 years ago