Answer:
Provided in Explanation
Explanation:
This is a very general question however I’ll try to answer it to the best of my knowledge.
If I use my own assumptions then these will be the Projections:
Selling Price $79.99 Selling Price $69.99
Cost of Sales/unit $40.00 Cost of Sales/unit $40.00
Expenses/unit $15.00 Expenses/unit $15.00
Demand @ $79.99 1000 Demand @ $69.99 1200
Sales $79,990.00 Sales $83,988.00
Cost of Sales $40,000.00 Cost of Sales $48,000.00
Expenses $15,000.00 Expenses $18,000.00
Profit $24,990.00 Profit $17,988.00
The final decision however relies on the Price Elasticity of the Product. If the Product is Price elastic then lowering the Price will lead to a significant rise in Demand. However if the Product is Price inelastic then lowering the Price will not lead to a significant rise in Demand and thus profit margins will be lowered. If the Product is Price inelastic then it is better to increase prices in order to gain more profits. In the case of Unit Elasticity the change in Demand will be at the same proportion as price change so it won’t be of any use to change the Price.
Answer: INCREASE; DECREASE
Explanation:An unexpected increase in the price of goods and services will cause a temporary output and employment,this is so because producers will respond to the rise in price by increasing the amount of goods and services supplied to the market,this will lead to a rise in employment.
An unexpected decrease in price level will lead to a decrease in the output by producers and employment will drop accordingly. This tries to show how price determines change in supply and employment.
Answer:
above $3.00
Explanation:
A price ceiling is when the government or an agency of the government sets the maximum price for a good or service. A price ceiling is non binding if it set above equilibrium price. So price above $3 is non binding. A non binding price ceiling has no effect on the market price.
Price ceiling is binding if it is set below equilibrium price.
Equilibrium price is where the demand and supply curve intersects.
I hope my answer helps you
<h3>International trade raises the standard of living in all trading countries.
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Explanation:
International trade is an inter country exchange of goods and services. Globally, exporting offers people and countries the ability to be exposed to goods and services that are not available in their nations, or that would cost more domestically.
Global trade allows countries to make more effective use of their resources–whether labor, technology or money. International trade usually enables countries to concentrate on those markets in which they can be most competitive and effective. In this way, international trade generally raises the standard of living of both producers and consumers.
The best way to make an impression on your interviewer is to send a handwritten thank-you note within 48 hours after your interview.
<h3>What is an Interview?</h3>
An interview is an assessment of an individual. It is a structured conversation where one asks questions and the other provides an answer to the questions.
Interviews are used most times to know the qualification of an individual and to get to know more about the individual. To make an impression on the interviewer, it is advisable to send a thank you note to the interviewer within 48 hours after the interview.
Learn more about Interviews here:
brainly.com/question/8846894
