<span>Income elasticity is obtained by dividing the percentage change in the quantity demanded of a product with by the percentage change in income. </span>
When income fell by 6 per cent and sales of many fast food restaurants increase by 8 per cent, then the income elasticity for fast food would be:
8/-6 = -1.33
When income fell by 6 percent and sales of soda decreased by 12 percent, then the income elasticity for soda would be
<span>-12/-6=2 </span>
Answer:
Different personal and cultural traits can explain why even though we know that planning our activities help a lot, we rarely do it.
Japanese society is extremely structured and they plan everything. There incredible economic success is the result of that. Once I was travelling on the same tour bus as a group of Japanese tourists, and their tour guide requested them to give him their schedules since being on vacations meant not following a plan. The tourists got all anxious and nervous because they were going to do something different, which was scary for them.
That day I started to question myself as to why I rarely plan things, and on the next days I really tried to do it, but I failed. One of the reasons I failed was that I was the only one planning what to do, no one else at work was. I felt like Cameron Diaz when she was making plans about where she should be planning on how to have fun. It was really boring, that is the reason why Japanese don't have children or even girlfriends, its easier to plan what to do with a doll.
There is something nice and good about being spontaneous, although sometimes I still feel that I need to plan a little more.
Answer:
Paradox of Power
Explanation:
A paradox is a self-contradicting statement or act that seems contrary to what it actually is.
Democracy represents the freedom or liberty to choose, so while the democracy program may seem by intuition, one which gives the workers freedom to choose whether to attend it or not, it is actually coercing the members to attend instead which represents a paradox of power since the paradox in this case is coercion or power.
Answer:
b. $34,000.
Explanation:
The computation of contribution margin is shown below:-
Particulars Bales Tales Wales
Seeling price $55 $78 $32
Variable cost $20 $50 $15
Contribution
margin $35 $28 $17
Required hour to
process 5 7 1
Contribution margin
per hour 7 4 17
Maximum contribution margin is
= Contribution margin per hour × number of machine hours
= 17 × 2,000
= $34,000
Answer:
Group boycott
Explanation:
Group boycott is when competitors agree to not buy or sell to a supplier or customer or do it only under certain conditions. According to this, the answer is that the strategy is called group boycott because the CEOs of the two companies agree not to work with the manufacturer.
