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frez [133]
4 years ago
8

Breckenridge Ski and Snow Board Rental Co. charges 67 for a one day rental. At that price they average renting 159 sets of appar

atus. Their yield management consultant recommended they lower their price to 56. At that price the consultant expects their average daily rental will be 205 sets of apparatus. At those prices and demand, what elasticity of demand can be expected? (Solve to two decimal places.)
Business
1 answer:
yawa3891 [41]4 years ago
3 0

Answer:

Price elasticity of demand = 1.76

Explanation:

<em>Price elasticity of demand (PED) is the degree of responsiveness of demand to a change in price. </em>

<em>Where a percentage change in price produces a more than a proportional change in quantity, we say the product is price elastic. On the other hand, where a change in price produces a less than a proportional change in quantity demand, then demand is price inelastic </em>

PED is computed as follows:

PED = % change in quantity /% change in Price

% change in demand  =   (56- 67)/67 × 100 = 28.93081761

% change in price =16.41791045

PED = 28.93/16.4179 = 1.762

Price elasticity of demand = 1.76

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Research three successful entrepreneurs. Directions Use the Internet to research any three successful entrepreneurs of your choi
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Conducting research on three successful entrepreneurs, we came to three relevant names in the current scenario, which are Jeff Bezos, Steve Jobs and Mark Zuckerberg.

Now let's briefly learn a little more about the profile of each of them:

<h3>Jeff Bezos</h3>

Jeff Bezos is the richest man in the world right now. His success story begins with the visionary idea of ​​founding Amazon in 1994, the pioneer in e-commerce in the world.

The essential characteristics of Bezos to be so successful were his visionary, methodical and innovative personality, since already at the beginning of his entrepreneurial trajectory, he was transparent with the shareholders that the company would take at least five years to generate profits.

<h3 /><h3>Steve Jobs</h3>

He founded Apple in 1976, one of the most valuable computer companies in the world, whose products revolutionized the history of personal computers, cell phones, music, etc.

Jobs' characteristics that helped him to create a successful brand were his persistence, hard work and perfectionism with which he performed his tasks.

<h3>Mark Zuckerberg</h3>

He became known for being the creator of faceb00k in 2004, the most accessed social network in the world, which expanded rapidly, with the acquisition of the most downloaded apps of the decade and made Zuckerberg one of the most successful entrepreneurs of the world.

His reserved and work-focused personality meant that he took advantage of opportunities to improve and extend his business, from acquiring new social media and innovating his company to a media and technology conglomerate.

Therefore, through the profile of these three famous entrepreneurs, it is possible to perceive similar character traits that were vital to the success of their companies, such as being a visionary leader, seeing unique opportunities to innovate through persistence and hard work.

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<h3>What is the retirement plan?</h3>

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Hence the SEP IRA is also called the simplified  employee pension plan. Therefore  the type of retirement plan that the individual would have to make the maximum contribution is the sep ira.

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Answer:

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