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4 years ago

What are the determinants of demand and provide the definition and example of each.

Business

1 answer:

yKpoI14uk [10]4 years ago

5 0

Explanation:

Examples of determinants of demand are:

- The price of the good or service. - The nominal price of a good is its value in terms of money

- The income of buyers. - available to purchase a good

- The prices of related goods or services. - one of the other factors affecting demand

- The tastes or preferences of consumers. - the subjective (individual) tastes, as measured by utility, of various bundles of goods.

- Consumer expectations. -the feelings, needs, and ideas that customers have towards certain products or services

If you have any questions feel free to ask in the comments. - Mark

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Answer:

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Explanation:

The company is currently selling 5,000 units per month at $150 per unit, and its total variable costs are $90 per unit.

Fixed expenses are $243,000 per month.

Current income statement:

sales revenue = $750,000

minus variable costs = ($450,000)

minus fixed costs = ($243,000)

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If the company increases its advertising budget be $11,000 it should sell 180 more units per month, the new income statement would be:

sales revenue = $777,000

minus variable costs = ($466,200)

minus fixed costs = ($254,000)

net income = $56,800

If the company decides to increase its advertising budget, its net profits will decrease by $200 (= $56,800 - $57,000).

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3 years ago

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3 years ago

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3 years ago

Cash outflows for McKinney Publishing in 2020 included:________. $347,000 in salaries to authors. $180,000 in fees to contracted

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3 years ago

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Less: Income tax -$84

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3 years ago

What are the determinants of demand and provide the definition and example of each.​

What are the determinants of demand and provide the definition and example of each.