Answer:
This refers to price elasticity of demand.
Explanation:
The price elasticity of demand (PED) measures how much does the quantity demanded of a good or service changes proportionally to a 1% change in the price of the good or service.
-the percentage change in quantity demanded is 1 percent greater than the percentage change in price.
- ELASTIC DEMAND: when the change in quantity demanded is proportionally greater than the change in price.
-the percentage change in quantity demanded is equal to the percentage change in price.
- PRICE UNITARY DEMAND: e.g. if the price increases by 10%, the demand decreases by 10% (the same proportion).
-the percentage change in quantity demanded is 100 percent greater than the percentage change in price (in absolute value).
- ALMOST PERFECTLY ELASTIC DEMAND: if a product has a perfectly elastic demand, any small change in price will increase or decrease the quantity demanded to either infinite (price decrease) or zero (price increase). No demand is perfectly elastic, but a demand that changes by 100% more than the price change is very similar to this concept.
-quantity demanded does not respond to changes in price.
- PERFECTLY INELASTIC DEMAND: the quantity demanded doesn't change if the price changes. This rarely happens in real life as well as the perfectly elastic demand.
Answer:
Break-even point in units = 12000 units
Explanation:
Break-even point is where sales and expenses are the same, thus the sales of a company are enough to cover its expenses.
Break-even point in units= Fixed cost / ( price of product-variable costs)
Variable expense ratio = variable expense per unit/price per unit
25% = 5/ price per unit
0.25=5/price per unit
5/0.25 = price per unit
$20 =price per unit
Break-even point in units= Fixed cost / ( price of product-variable costs)
Break-even point in units = $180,000 / ($20-$5)
Break-even point in units = $180,000 / $15
Break-even point in units = 12000 units
Answer:
But for Me its 10:00 AM now
Anyways thnks for points!!!
Answer:
A tract of land used for raising crops or livestockcan be called a field or a farm.
