Answer:
The price elasticity of demand is 1.14.
The price is Elastic.
Elasticity is more than one so total revenue will fall.
Explanation:
Given the initial price of good x = $12
Final price of good x = $12.90
% change in price = [(12.90 - 12) / 12] x 100 = 7.5 %
Initial quantity = 5000
Final quantity = 4600
% change in quantity = [(4600 - 5000)/5000] x 100 = -8%
Elasticity = % change in quantity / % change in price
Elasticity = 8% / 7%
Elasticity = 1.14
The price elasticity of demand is 1.14.
The price is Elastic.
Since elasticity is more than one so total revenue will fall.
Answer:HR plays a key role in developing, reinforcing and changing the culture of an organisation. Pay, performance management, training and development, recruitment and onboarding and reinforcing the values of the business are all essential elements of business culture covered by HR
A diverse workforce is a more productive workforce, and your business can benefit from different perspectives, improved community relations and more creative ideas.
Workforce diversity can bring about an increase in productivity and competitive advantages. Employers can offer more solutions to customers because of new ideas and processes brought into the organization. Workplace diversity also increases employee morale and causes employees to desire to work more effectively and efficiently. Diversity in leadership within a firm allows managers to bring in new skills and methods for achieving unity within their teams.
Explanation: workforce diversity helps the organization to grow faster and also boost the morals of employees,for every organization that adopt diversity it's tends to be above other organizationbin level of productivity.
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Answer:
The present value of the machine is $35499
Explanation:
The annual amount or annuity amount = $4010 per year.
Total number of years = 13 years
Here, the interest rate is not given so we just assume the interest rate = 6% per annum.
Since we have a total number of years and annual payment that occurs for 13 years. We are required to find the present value of the machine. So use the formula to find the present value of the annuity.
The present value of machine = (Annuity amount x (1 – (1+r)^-n) ) / r
The present value of machine = (4010(1 – (1+6%)^-13) ) / 6%
The present value of machine = $35499
Answer:
Fixed costs = $13,000
Variable costs = $450,000
Explanation:
Fixed costs are costs that do not vary with production. In this question, they are rent payments and monthly payments on meat packaging equipment.
Fixed cost = $10,000 + $3,000 = $13,000
Variable costs are costs that vary with production. In this question, they are the cost of purchase of raw meat, wages and fuel costs.
Variable costs = ($20 + $90 + $40) × 3000 = $450,000
I hope my answer helps you.
