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Luba_88 [7]
3 years ago
15

Suppose that the price of product x rises by 20 percent and the quantity supplied of x increases by 15 percent. The coefficient

of price elasticity of supply for good x is
Business
1 answer:
SSSSS [86.1K]3 years ago
3 0

Answer: Coefficient of elasticity of supply is 0.75.

Explanation:

Price elasticity of supply measures the responsiveness of quantity supplied to a change in the price of the good. It can be measured using the percentage point method,

e_{s} = \frac{Percentage change in Quantity supplied}{Percentage change in price}

=\frac{15}{20}

=0.75

Therefore, coefficient of elasticity of supply is 0.75. Since it is less than 1 we can infer that supply for this good is relatively inelastic.

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An ad by the Minnesota State Tourism Department, which promotes Minnesota as a vacation destination, was published in Life Mode
yKpoI14uk [10]

An ad by the Minnesota State Tourism Department, which promotes Minnesota as a vacation destination, was published in Life Mode magazine. The ad includes a picture of a couple against a scenic backdrop. In this print ad, the source of the advertising message is the Minnesota State Tourism Department

<h3><u>Explanation:</u></h3>

Tourism department generates revenues to the government with the help of the natural resources and beautiful destinations that exists in a country. Money will be collected from the people who visits the places in the country. This type of depart earns a lot of revenue during the time of vacations.

They also promote by giving certain discounts and offers during  vacation time for attracting many people towards that destination. They also give advertisements for making the people to support state tourism to generate resources for the nation. Thus, in the given example the source of the advertising message is the Minnesota State Tourism Department.

6 0
3 years ago
Betty runs a boutique. She buys semi-automatic sewing machines for her tailors because she cannot afford the fully automatic one
faltersainse [42]

Answer:

Betty runs a boutique. She buys semi-automatic sewing machines for her tailors because she cannot afford the fully automatic ones. This scenario best illustrates the concept of

counterconditioning

maximizing

satisfying

overregularizing

Explanation:

Counterconditioning is functional analytic principle that is part of behavior analysis, and involves the conditioning of an unwanted behavior or response to a stimulus into a wanted behavior or response by the association of positive actions with the stimulus.

Maximizing the workload, within the resources that she has, and not overburdening herself.

overregularizing each and every step that she takes as her business is young.

3 0
4 years ago
Westerville Company accumulates the following data concerning a mixed cost, using units produced as the activity level.
KatRina [158]

Answer & Explanation:

a. Using the high-low method, Variable cost per unit is;

= \frac{Highest Variable Cost - Lowest Variable Cost}{Highest number of units - Lowest number of Units} \\\\= \frac{17,492 - 14,860}{10,480 - 8,600} \\\\= $1.40

= $1.40

b. Fixed Cost

= Total Cost at lowest unit - Variable costs at lowest unit

= 14,860 - (1.4 * 8,600)

= $‭2,820‬

c. Variable cost at 8,170 units + Fixed cost

= (8,170 * 1.4) + 2,820

= $‭14,258‬

3 0
3 years ago
How is job order and process costing similar?
STatiana [176]

Answer: The following are the similarities between job order and process costing:

Explanation:

Job order costing and process costing have significant similarities:  

  • Both job and process cost frameworks have a similar objective: to decide the expense of items.  

  • Both job and process cost frameworks have a similar cost streams. Bookkeepers record production in separate records for materials stock, work, and overhead. At that point, they move the expenses to a Work in Process Inventory account.  

  • Both job and process cost frameworks used predetermined overhead rates to apply overhead.

4 0
4 years ago
Explain, in your own words and step-by-step, what happens to wastewater once it reaches the treatment plant. (6 steps)
timofeeve [1]

Answer:

After wastewater reaches the treatment plant, there are two process applied consecutively: Primary treatment and Secondary treatment.

Explanation:

  • When water reaches to the treatment plant there are two process for the treatment:
  1. Primary Treatment: Here most of the solid particles are filtered out. The screening process removes the large floating  objects such as rags and sticks that may hamper the pipes. Then the grit chamber sediments the sands, stones, cinders etc. in the sedimentation tank.
  2. Secondary Treatment : It is the process of removing the organic wastage by using the bacteria. The trickling filter and the activated sludge process removes about 80% of the organic waste from the water.  
7 0
3 years ago
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