It should be noted that a company's market share serves as the percentage of the total target market for the product that belongs to the company.
Market share can be regarded as the percentage of the total revenue that is been made in a particular market or in a business.
This serves as the amount of money that the company is able to make off the market.
Therefore, option B us correct because company's market share serves as the percentage of the total target market for the product.
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Answer:
The four main environmental issues that are most likely to influence the activities of a business are climate change, pollution, sustainability and waste reduction.
Explanation:
Answer:
$36 billion
Explanation:
The computation is shown below:
For this question, we use the income approach for calculation the wages i.e shown below:
GDP = Interest payments + profits + rent + wages
$65 billion = $15 billion + $7 billion + $7 billion + wages
$65 million = $29 billion + wages
So, the wages would be
= $65 billion - $29 billion
= $36 billion
Answer
Price elasticiy of demand for business travelers: -0.16
Price elasticity of demand for vacationers: -0.29
Explanation:
To find the price elasticy of demand (PED) using the midpoint method, we use the following formula:
![PED = \frac{(Q2-Q1)/[(Q2+Q1)/2]}{(P2-P1)/[(P2+P1/2]}](https://tex.z-dn.net/?f=PED%20%3D%20%5Cfrac%7B%28Q2-Q1%29%2F%5B%28Q2%2BQ1%29%2F2%5D%7D%7B%28P2-P1%29%2F%5B%28P2%2BP1%2F2%5D%7D)
Where Q2 and P2 are the new quantity demanded and new price respectively, and Q1 and P1 are the old quantity demanded and price.
Plugging the amounts into the formula we obtain the results of the answer.
Because both results are in absolute value less than one (0.16 and 0.29), we can say that the PED of tickets, for both vacationers and Business traveleres, is relatively inelastic. (Demand falls less in proportion to the change in price).
