Price elasticity of demand measures how changes in price affect the quantity of product demanded. A good or service's price elasticity of demand is calculated by dividing percentage change in the amount sought by percentage change in the price.
The ratio of the percentage change in quantity supplied to the percentage change in price is price elasticity of supply. A good or service's price elasticity of demand is calculated by dividing percentage change in amount sought by the percentage change in price.
The ratio of percentage change in quantity supplied to percentage change in price is price elasticity of supply.
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An example would be
The Cost of flour for a baker
Nellie's position would be classified as a staff position since he working as an attorney for the same consulting firm.
<h3>Who is an attorney?</h3>
An attorney is a person or a member of the legal profession. They are licensed and qualified to represent a client in court.
Here, Nellie is providing legal support to his firm's consultant hence his position would be considered as staff.
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On a worksheet, select the cell or range of cells that you want to add a border to. Then, on the Home tab, go to the Font group and click the arrow next to Borders. There you shall be able to click a border style.
<u>Solution and Explanation:</u>
The data of SAG of special order is given below:
Cost per unit = $3.50
, Allocated fix cost = $1.50
, Number of units in order = 15000
<u>Calculated the total cost of the special order as follows:
</u>
Incremental cost per unit = Cost per unit-Allocated fix cost =$(3.50 minus 1.50) =$2
Incremental cost per unit=cost per unit-allocated fix cost =$(3.50 minus1.50) =$2
Total incremental cost 15000 unit = number of units in order x Incremental cost per unit =15000 multiply $2 =$30000
Therefore, total cost of the special order is $30000
b) Offering price by ETU = $35000. Hence, the offer made by ETU would affect the short term of the special order.
Contribution cost = $(35000 minus 30000) =$5000
