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Brrunno [24]
3 years ago
14

You are the manager of Local Electronics Shop (LES), a small brick-and-mortar retail camera and electronics store. One of your e

mployees proposed a new online strategy whereby LES lists its products at Pricesearch – a price comparison Web site that allows consumers to view the prices of dozens of retailers selling the same items. Would you expect his strategy to enable LES to achieve sustainable economic profits?
Business
1 answer:
Shkiper50 [21]3 years ago
5 0

Answer:

The correct answer is No, because due to intense producer-producer rivalry.

Explanation:

In economics, competition means rivalry of competition between companies that participate in a market that apply better strategies so that they can minimize their costs, maximize their profits and thus remain active and innovative vis-à-vis other companies.

With this, it seeks that the economic agents strive to improve the use of resources to produce goods and services, and to improve and innovate in the quality and variety of these, with the purpose that results in improvements in competitiveness and more benefit for the consumer , all this to achieve greater economic growth and social welfare.

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uppose the annual demand function for the Honda Accord is Qd = 430 – 10 PA + 10 PC – 10 PGwhere PA and PC are the prices of the
emmainna [20.7K]

Answer:

Qd = 400 units

elasticity of demand of the Accord with respect to the price of Camry = 0.5

elasticity with respect to the price of gasoline = -0.075

Explanation:

Solution:

The annual demand function for the Honda Accord is:

Qd = 430 – 10 PA + 10 PC – 10 PG

Where,

PA = Price of Honda Accord

PC = Price of Honda Camry

PG = Price of Gasoline per gallon.

Selling Price of both cars = $20,000

Fuel Cost = $3 per gallon.

a) Elasticity of Demand of the Accord with respect to the price of Camry.

First, we need to calculate the number of units demanded.

Qd = 430 – 10 PA + 10 PC – 10 PG

Qd = 430 – 10 (20) + 10 (20) – 10 (3.00)

Qd = 430 - 200 + 200 - 30

Qd = 430 - 30

Qd = 400 units

Cross-price elasticity of the Accord with respect to the price of the Camry will be:

Cross Price = (dQd/dPC) x (PC)/(Qd)

dQd/dPC = 10

PC = 20

Qd = 400

So,

Cross Price = 10* 20/400

Cross Price  = 0.5

b) Elasticity with respect to the price of gasoline?

Elasticity =  (dQd/dPG)*(PG/Qd)

dQd/dPG = -10

PG = 20

Qd = 400

Elasticity  = (-10)*(3/400)

Elasticity  =  -0.075

5 0
3 years ago
To be considered of high quality, a product must: Select one: a. meet high specifications b. meet customers' stated expectations
masha68 [24]

Answer:

D

Explanation:

meet safety standards

4 0
3 years ago
Baskets Inc. gathered the following actual results for the current month: Actual amounts: ​ Units produced 6000​ Direct material
ss7ja [257]

Answer:

price variance  $(22,800.00) UNFAVORABLE

Explanation:

(standard\:cost-actual\:cost) \times actual \: quantity= DM \: price \: variance

std cost                           $6.00

actual cost                    $9.00

quantity                       7,600

difference                   $(3.00)

price variance  $(22,800.00)

We calculate the actual cost by dividing total cost by the lbs purchased:

68,400/7,600 = 9

Because the diference is negative, the variance is unfavorable.

Each pound cost more than it was planned.

8 0
3 years ago
Project risk is lowest during the: Finish phase of the project life cycle. Conceive phase of the project life cycle. Develop pha
olchik [2.2K]

Answer:

Finish phase of the project life cycle.

Explanation:

The finish phase (or termination, or completion phase) of a project life cycle is basically when the project is completed and it is being delivered to the customer. Depending on the project, paperwork and documents are handed out to the customer, contracts with workers and suppliers are terminated. Everyone involved with the project must be notified about its completion and all obligations are paid for.

5 0
3 years ago
When Corinne asked why she didn't get the job, the manager replied, "I needed someone who understood basic accounting practices
OLga [1]

Answer:

The aspect of career readiness the manager feel Corinne was lacking was Knowledge

Explanation:

Career readiness is the preparation and process of acquiring skills, knowledge, talents that are required to start a career, maintain one's position in such career and grow.

The aspect of career readiness the manager feel Corinne was lacking was Knowledge because see made a statement that implied that Corinne lack basic understanding of accounting practice.    

Knowledge  is an aspect of career readiness that has to do with the theoretical or practical  understanding of a subject matter. It is the information, skills and facts gained through experience and education.

Other skills that are acquired in the process of career readiness are communication skills, human relation skills, critical thinking skills etc.

5 0
3 years ago
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