Answer:
Break-even point in units= 93 units
Explanation:
Giving the following information:
Its fixed costs are $1000 a week and its variable costs for one batch of umbrellas per week are $500 for 2000 units.
After doing market research, the company sets the price per umbrella at $11.
Unitary variable cost= 500/2,000= $0.25
To calculate the break-even point in units, we need to use the following formula:
Break-even point in units= fixed costs/ contribution margin per unit
Break-even point in units= 1,000/ (11 - 0.25)
Break-even point in units= 93 units
Answer:
12 bananas or 8 apples are needed to purchased
Explanation:
The computation of the number of bananas or the apples is shown below:
Since the income is $24
And, the price of an apple and the price of banana is $3 and $2 respectively
So, the number of bananas is
= $24 ÷ $2
= 12 bananas
And, the number of apples is
= $24 ÷ 3
= 8 apples
Therefore 12 bananas or 8 apples are need to purchased
Answer:
$0.35
Explanation:
The computation of the price elasticity of demand using mid point formula is shown below:
= (change in quantity demanded ÷ average of quantity demanded) ÷ (percentage change in price ÷ average of price)
So, Change in quantity demanded would be
= Q2 - Q1
= 40 - 30
= 10
Now, Average of quantity demanded
= (40 + 30) ÷ 2
= 35
Change in price
= P2 - P1
= $35 - $15
= $20
And, the average of price would be
= ($35 + $15) ÷ 2
= $25
Cross price elasticity of demand = (10 ÷ 35) ÷ ($20 ÷ $25)
= 0.28 ÷ $0.8
= $0.35
Answer:
To no the prices of goods and service and to buy stuff at low prices.
Explanation:
A purely competitive market is a situation where multiplier sellers have homogeneous products. The availability of the information is very important in a purely competitive market in order to decide how many sellers are selling the same product and from where an individual can buy products at low prices. Availability of information means, no seller can earn abnormal profits.
The answer would be geomarketing. The type of intermediaries that can be utilized are as follows:
1. retailers- outlets that trade directly to household customers
2. wholesalers- their main purpose is to sell to retailers
3. distributors- similar to wholesalers but sell one line of product only
4. agents- main purpose is to act as the main representative of the company
