Anne is conducting market research by doing a competitive analysis.
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Answer:
4.20 and normal good
Explanation:
The computation of the income elasticity of demand is shown below:
= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in income ÷ average of quantity income)
where,
Change in income would be
= Q2 - Q1
= 109,500 - 102,300
= 7,200
And, average of income would be
= (109,500 + 102,300) ÷ 2
= 105,900
Change in quantity demanded would be
= 4 - 3
= 1
And, average of quantity demanded would be
= ($4 + 3) ÷ 2
= 3.5
So, after solving this, the income elasticity of demand is 4.20
Since the elasticity comes in positive which means the good is a normal goods
Answer:
Project Y = -$1,825.80
Project Z = $4,148.00
Explanation:
Calculation are as attached in the file
Answer:
$5.70
Explanation:
The calculation of conversion costs for the month is given below:-
Units started to completed during the period = Units completed during the month - Units started during the month
= $104,000 - $16,400
= $87,600
So, to complete the started work in progress :-
The Conversion = $16,400 × (100% - 20%)
= $13,120
Units started to completed during the period $87,600
And, the ending work in progress
For Conversion = $13,400 × 30%
= $4,020
Therefore, the Equivalent production of units is
= $87,600 + $13,120 + $4,020
= $104,740
So, The cost of per per equivalent unit is
= Cost added during the period ÷ Equivalent units of production
= $597,123 ÷ $104,740
= $5.70
Answer: Strength.
Explanation:
SWOT analysis of a company is a study into the strength, weakness, opportunities and threats facing that company. At Patty's Diner, the friendly service is an area of strength which the restaurant uses to attract buyers to their shop. Hence Patty's Diner has to maintain the friendly service they render.
