The correct answer is: "I would recommend her not to increase the price, because with an elastic demand function this will cause a great decrease in the quantity demanded by consumers".
The demand function represents the quantity of a certain good or service that consumers are willing to purchase in the market at different price levels. The law of demand states that there is an inverse relationship between price and quantity demanded (ceteris paribus, hence, given that the rest remains equal). <u>Therefore, when the price charged decreases, the amount that consumers are willing to purchase increases. </u>
In turn, the elasticity of the demand function measures the sensitiveness of the quantity demanded by consumers when there is a certain price change. If the demand function is elastic it means that a price variation would generate an even larger variation (in the inverse direction of course!) in the quantity demanded. <u>This is the case of the lemonade stand therefore the girl should not increase prices because this will not help her to reach her objective quicke</u>r, as she would loss a greater proportion of units sold than the size of the price increase that would have allowed her to earn more per unit.
Answer: NIMS management characteristic Accountability is there in this situation.
Explanation:
The National Incident Management system controls major incidents and coordinates with the person to overcome such incidents based on some management characteristics. Accountability is one such characteristic where the check-in and check out are included.
Therefore, in the above situation, the Principle of Accountability is the management characteristic. According to the principle of Accountability, the manager is responsible to coordinate with the resources. It includes, checks in and check- out, personal responsibility, unity of command, etc.
Variable interest rate mortgage loans have an interest rate that varies depending on the level of current interest rates.
An interest rate on a loan or security that fluctuates over time because it is based on an underlying benchmark interest rate or index that is interest rates subject to Variable interest rate regular changes is known as a variable interest rate (also known as an "adjustable" or "floating" rate).
A variable interest rate has the obvious advantage that if the underlying rate or index decreases, so do the borrower's interest payments. On the interest rates other hand, if the underlying index increases, interest payments rise. Fixed interest rates are stable, as opposed to variable interest rates.
Variable interest rate mortgage loans have an interest rate that varies depending on the level of current interest rates.
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Answer:
$4,713.425
Explanation:
The computation of amount of net pay for the employee for the month of January is shown below:-
Deductions = (Gross earning × Social security tax rate) + (Gross earning × Medicare tax rate) + Federal income taxes + Health insurance + Contribution of retirement plan
= ($5,550 × 6.2%) + ($5,550 × 1.45%) + $184 + $152 + $76
= $344.1 + $80.475 + $184 + $152 + $76
= $836.575
Net pay = Gross earning - Deductions
= $5,550 - $836.575
= $4,713.425
Therefore for computing the net pay we simply applied the above formula.
