1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
laiz [17]
3 years ago
14

A candle manufacturer produces 4,000 units when the market price is $11 per unit and produces 6,000 units when the market price

is $13 per unit. Using the midpoint method, for this range of prices, the price elasticity of supply is about
a. 6
b. 2.4.
c. 0.4
d. 0.67

Business
1 answer:
mario62 [17]3 years ago
5 0

Answer:

The option (b) 2.4 is correct.

Explanation:

We can find price elasticity of demand by using the formula shown in the attachment attached with.

Since we know the quantities of product associated with the market price of the product, by putting values in the equation we have:

Price elasticity of Demand =

= [(6000 - 4000) / (6000 + 4000)/2] / [(13 - 11) / (13+11)/2]

Price elasticity of Demand = 2.4

So this is how we can find the price elasticity of supply which says that the producers will respond to prices drop by producing lower quantity of product.

You might be interested in
Philippe wants to make sure of the success of his new doggy day care, PAWS, by employing the steps in the basic planning process
Nataliya [291]

Answer:

Full Business Considerations

Efficient Facilities

A Cost-Effective Advertisement

He must Define his Services

He must outline his Service Prices

Carry out interviews for New Clients

With all of these steps being adhered to, Philippe's business will indeed be great!

6 0
3 years ago
Nadiya, your classmate, is struggling to keep up with class. Last week, she told you that she even thought about cheating on a t
FinnZ [79.3K]

Answer:

fundamental attribution error.

Explanation:

This theory in sociology also called the attribution effect states that people tend to over-attribute behavior of others to internal causes or traits.

The Professor makes this "fundamental attribution error" by failing to consider Nadiya's situation; meaning the situational information was insufficiently taken into account before reaching a conclusion (Probably Nadiya is under emotional distresse maybe she's grieving the death of her Farther).

3 0
3 years ago
After enrolling in the MBA program at Minor State University, Sheri began having second thoughts. Although MSU seemed to be a go
NARA [144]

Answer:

Option D                  

Explanation:

In simple words, Cognitive dissonance refers to the practical contact of mental stress that arises whenever an individual holds two or more contradictory beliefs, ideas, values or takes part in a behavior contrary to some of these three.

As per this concept, when two acts or thoughts do not coincide mentally with each other, individuals will do everything they can to alter these until they become compatible.

Thus, from the above we can conclude that the correct option is D .

6 0
3 years ago
The variance analysis cycle ______. Multiple choice question. begins with the preparation of the budget includes the investigati
Ludmilka [50]

The variance analysis cycle<u> C. begins with the preparation of </u><u>performance reports</u><u>.</u>

<h3>What is a performance report?</h3>

A performance report is at the heart of the variance analysis cycle.

The performance report details the following:

  • Calculates the difference between actual and budgeted expenditure and revenue.
  • Analyzes the differences into various variances, determining if they are favorable or unfavorable or have no effects.
  • Investigates the reasons for the differences.
  • Puts the information together and reports to management.

Thus, the variance analysis cycle<u> C. begins with the preparation of </u><u>performance reports</u><u>.</u>

Learn more about performance reports and variances at brainly.com/question/13287252

4 0
2 years ago
If a department that uses process costing starts the reporting period with 100,000 physical units that were 20% complete with re
Naddika [18.5K]

Answer:

The correct answer is True

Explanation:

In calculating the equivalent units with respect to labor,the physical units at the start of the period is multiplied by the percentage of completion.

In other words, the equivalent units is shown thus:

Equivalent units =100000 units*20%

Equivalent units =20000 units

This implies that labor has carried  out 20% of the work required to transform the 100000 units into finished products,since only 20% work is completed, the remaining 80% is expected in the next period.

7 0
3 years ago
Other questions:
  • A marketing manager had a goal to improve market share for his paper plates by 2 percent in the coming year, and he felt he’d ne
    15·1 answer
  • Renata and Danuta would like to form a business providing take-out meals to homebound destitute residents of Las Vegas. The meal
    5·1 answer
  • Kimberly has been helping Jonah in preparing his personal income tax forms for a couple of years. Jonah's boss recommended Kimbe
    14·1 answer
  • Johnson and Gomez, Inc. is a small firm involved in the production and sale of electronic business products. The company is well
    10·1 answer
  • business buying often involves long-term relationships with suppliers. How does this affect buying behavior​
    6·2 answers
  • What did Lonnie Johnson work on in the military
    11·1 answer
  • Revenue is traditionally recognized in the accounting records when
    7·1 answer
  • Suppose that today you buy a bond with an annual coupon rate of 10 percent for $1,120. The bond has 17 years to maturity. What r
    5·1 answer
  • You are employed by a bank with the title financial adviser. In your capacity at the bank, you are required to hold a general se
    11·1 answer
  • YO Easy question for all
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!