Answer:
O Concert tickets
Explanation:
Elastic demand is the demand that is highly responsive to changes in prices. A small change in price causes the demand to change by a big proposition. When the demand is elastic, the change in demand is not propositional to changes in price.
Non-essential goods tend to have elastic goods. These are the goods that consumers can survive without. Demand for non-essential tends to decrease or increase in a big proposition when prices rise or fall by a small margin. From the list provided, concert tickets are non essential goods.
Answer:
The Total Variable Cost is $242,200
Explanation:
The variable costs are all the prime costs which is all direct costs which includes direct labor $138,000, direct material $85,000 and packaging costs $19,200 which increases with the activity level increases. This means that the cost that doesn't change with the change in activity level are fixed costs and these are depreciation, factory insurance, Manager and supervisor's salary, and property taxes which are fixed for the year.
Answer: The correct answer is "B. Complex physically based attributes".
Explanation: These are examples of Complex physically based attributes. The physical product attributes are those that refer to physical and material characteristics of the product, its composition, organoleptic qualities in short, all those perceivable by the senses such as smell, color, texture, shape, sound, etc.
Answer: $397,716
Explanation:
Degree of Operating Leverage = Change in Net Operating Income/ Change in Sales
6.60 = Change in Net Operating Income / (520,260 - 460,000)
(520,260 - 460,000) * 6.60 = Change in Net Operating Income
Change in Net Operating Income = 62,260 * 6.60
Change in Net Operating Income = $397,716
Answer:
Explanation:
Fist we should understand 1st and 4th principles.
First principle - "Science, Not Rule of Thumb". It says that we should develop a science for elements of work and do not get stuck in a set routine with the old techniques of doing work. We should be constantly experimenting to develop new techniques which make the work much simpler, easier and quicker. Basically, looking at doing work from the perspective of science and experimenting.
Third principle - "Cooperation, Not Individualism". It says that when people work together there should be cooperation. Managers and employees should work together and jointly achieve results. This increases involvement and responsibility
The first principle is to develop a science for each element of work, whereas the third principle instructs managers to cooperate with employees to ensure that scientific principles are actually implemented is a difference between the first principle and the third principle.