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rewona [7]
3 years ago
8

Two drivers—Brian and Crystal—each drive up to a gas station. Before looking at the price, each places an order. Brian says, "I'

d like 10 gallons of gas." Crystal says, "I'd like $10 worth of gas."
Which of the following statements is correct? Check all that apply.

Brian's demand is perfectly inelastic.

Crystal's demand is perfectly elastic.

Crystal's demand is unit elastic.

Brian's demand is elastic.
Business
1 answer:
krek1111 [17]3 years ago
7 0

Answer:

Brian's demand is perfectly inelastic.

Crystal's demand is unit elastic.

Explanation:

Given that

Brian said = 10 gallons of gas

where, Crystal says = $10 worth of gas

By seeing the above information, we concluded that the Brain's demand is perfectly inelastic as the demand of the gallons are fixed

And, the crystal demand is unitary elastic as the expenditure would remain unchanged or fixed

In addition, the perfectly inelastic is when elasticity is zero , and unitary elastic is when elasticity is equal to one

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1) Torria wants to open a hair salon.
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Answer:

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<u><em>a. 2 possible sources of revenue the business may have.</em></u>

As a hair salon, there are several sources of revenue as following:

+) First is the revenue from providing hair care services for customers. This is the main sources, generated by providing services such as cutting, dyeing, etc.

+) The second source is from training. Torria can open courses for people who want to learn about hair care skills.

<em><u>b. 5 possible expenses the business may have</u></em>

To establish and operate a business, Torria may face these expense:

+) First is the fee for place. Torria will have to pay regularly fee to borrow rooms/ house to place the salon.

+) Second is the initial investment in interior and facilities such as chair, bed,  mirror; the hair care products like shampoo, essential oils, etc.

+) Third is the salary Torria has to pay for the employees.

+) Fourth is the expense for advertising including: printing posters/ online advertisement, etc.

+) Last but not least is billing on electricity or water

Case 2: Mykeda wants to open an electronic store selling Apple products.

<em><u>a. Other source of revenue than selling electronics</u></em>

Other than selling electronic product, Mykeda can provide the services of repairing electronics to generate revenue. In this services, users can bring their broken phone to Mykeda's store to fix it and pay for that.

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4 expenses that Mykeda may have when opening a store are:

First, Mykeda has to pay for borrowing location on a street or in a mall to open the store.

In addition, there would be cost for the furniture of the store such as sofas, shelves, etc.

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3 years ago
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2 years ago
A stock sells for $6.99 on December 31, providing the seller with a 6% annual return. What was the price of the stock at the beg
Dimas [21]

Answer:

Correct option is 6.59

Explanation:

Selling price of stock at the end of the year is $6.99. Annual return rate is 6%. Price of stock at the beginning will be present value of stock valued at the end discounted at 6%. Computation is as shown below:

Present\ value\ or\ price\ of\ stock = Selling\ price\left ( \frac{1}{1+i} \right )^{n}

= 6.99\left ( \frac{1}{1+0.06} \right )^{1}

= \frac{6.99}{1.06}

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Therefore, Stock's price in the beginning of the year is $6.59.

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