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GaryK [48]
3 years ago
12

Suppose that during the past year, the price of a laptop computer rose from $2,750 to $2,880. During the same time period, consu

mer sales decreased from 446,000 to 321,000 laptops.
Business
1 answer:
icang [17]3 years ago
8 0

Answer: Elasticity of demand is 7.06

Explanation:

P1= $2,750

P2=$2,880

Q1=446,000

Q2=321,000

Elasticity = \frac{Q2 - Q1}{\frac{Q1 + Q2}{2} } * \frac{\frac{P1 + P2}{2} }{P2 - P1}

Elasticity = \frac{321,000 - 446,000}{\frac{446,000 + 321,000}{2} } * \frac{\frac{2750 + 2880}{2} }{2880 - 2750}

Elasticity = \frac{-125,000}{383,500} * \frac{2815}{130}

Elasticity = - 0.3259*21.6598

Elasticity = -0.76

Thus, elasticity of demand for laptops is 7.06. This means that laptops are highly price elastic as it is greater than 1.



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A factory currently manufactures and sells 800 boats per year. Each boat costs $5,000 to produce. $4,000 of the per-boat costs a
spayn [35]

Answer:

B

Explanation:

Variable costs are incurred only when a boat is manufactured such as material and direct labor. Thus variable costs will remain unchanged since it will costs the exact same amount to manufacture another identical boat. If it costs $4,000 in material and direct labor to manufacture boat A it will cost $4,000 to manufacture boat B. Fixed costs are sunk costs that will be incurred whether they manufacture 800 or 1,000 boats per year. The rent and admin costs will remain unchanged no matter how many boats are manufactured. But the fixed cost per boat will change. The total fixed costs are $80,000 (800 boats x $1,000 per boat fixed cost). If the manufacturing rate is increased to 1,000 boats per year, the per boat fixed cost will decrease to $800. Fixed costs remain at $80,000/1,000 boats = $800.

4 0
3 years ago
You are working at the campus bookstore, earning $9.00 per hour. Your manager tells you that in the upcoming year, you will get
Anastaziya [24]

Answer:

a. $0.09

b. $0

c. -$0.09

Explanation:

Real rate = Nominal rate - inflation rate

a. Real rate = 2% - 1%

= 1%

Change in real wage = 9 * 1% = $0.09

b. = 2% -2% = 0%

Change in real wage = 9 * 0% = 0

c. = 2% - 3%

= -1%

Change in real wage = 9 * -1% = -$0.09

8 0
3 years ago
Is Cab Service in the UK is Excellent Choice for Transport?
Andreas93 [3]

Cab services are the best option for transportation in the UK.

Cabs are a type of personalized transport that works in the United Kingdom, this service offers several advantages compared to taxis such as:

  • It is cheaper than taxis.
  • It is more comfortable and less disturbing.
  • They have several options for the number of people traveling.
  • They can be booked easily and quickly
  • Offers a much faster transportation service than buses or black taxis
  • It is available 24 hours a day, 7 days a week.

Based on the above, it can be inferred that Cabs are the best transport service in the UK.

Learn more in: brainly.com/question/23627598

6 0
2 years ago
a firm decided to spent 2% of its profit onn free education to the children of nearby area. indicate the value involved in this
OlgaM077 [116]
Positive reputation in local community would attract new customer
8 0
3 years ago
Words like denigrate, the undersigned, and expropriate are examples of high-level diction and should be used liberally in busine
rusak2 [61]

Answer:

False.

Explanation:

Communication through business messages should convey the information in the simplest words so that the other party can easily understand what is being said. It also needs to be brief and to the point.

Using high level diction liberally in business communication leads to unclear messaging. The reader may not know the meaning of the words so the aim of communication will be defeated.

Also high level diction can have different meanings in different circumstances.

High level diction should be used sparingly, and simple diction is preferred.

7 0
2 years ago
Read 2 more answers
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