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4 years ago

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Business

1 answer:

GuDViN [60]4 years ago

4 0

Answer: The answer is elastic demand because elasticity of demand is > than 1

Explanation:Elasticity of demand is the degree of responsiveness of demand to slight change in price of goods. It is calculated as ED=% change in Qd/% change in price

Since Qd is 3 and 5

Qo-Q1/Qo*100%

3 - 5/3*100%

= -2/3*100%

= -200/3

=-66.6%(ignore the minus sign)

Po-P1/Po*100%

8-6/8*100

=2/8*100%

= 25%

ED= 66.6/25

=2.6

6-8/6*100%

=-2/6*100%

=-200/6

=-33.3%

ED= 66.6/33.3

Since the elasticity of demand is greater than 2. Therefore elasticity of demand is elastic

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A local pizzeria sells 500 large pepperoni pizzas per week at a price of $20 each. Suppose the owner of the pizzeria tells you t

n200080 [17]

Answer:

He will sell 600 pizzas per week if he cuts the price by 10%.

Explanation:

Price Elasticity of demand measure the responsiveness of demand to change in the price of a product. It calculates the ratio of change in demand and change in price.

Price elasticity of demand = % change in demand / % change in price

-2 = % change in demand / 10%

% Change in in demand = -2 x 10%

% Change in in demand = -20%

Following the law of demand as price decreases the demand of the product increases. So the sale of Pizzas will be increased by 20%.

Current Sale of Pizzas = 500 pizzas

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3 years ago

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dybincka [34]

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3 years ago

Read 2 more answers

Department G had 3,600 units 25% completed at the beginning of the period, 11,000 units were completed during the period, 3,000

zvonat [6]

Answer:

Total value of beginning WIP: 62,205.61

Explanation:

"first-in, first-out method of inventory costing is used"

From the current cost assing for the beginning WIP we will add the cost added to end this units.

Equivalent units conversion cost:

complete units: 11,000

work on beginning WIP inventory: 3,600 x 25% = (900)

work on ending WIP invenotry: 3,000 x 20% = 600

Equivalent Units for Conversion Cost 10,700

Conversion cost per unit: 63,000 labor + 25,000 overhead

Total 88,000

Cost per equivalent units: 88,000 / 10,700 = 8,22429 = 8.2243

Beginning Inventory:

Beginning Cost: 40,000

Conversion Cost added:

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4 years ago

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shutvik [7]

This is the full question

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Answer:

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Very nice visual interface without clutter.

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