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viva [34]
3 years ago
13

You have been appointed head of marketing for Barry's Younique Yachts. Barry, the CEO, is interested in determining whether offe

ring his yachts at a lower price would increase the firm's revenue. He asks you for advice. Using your knowledge of elasticity, you should tell Barry
that he should increase his prices. Demand for yachts is perfectly inelastic, so a price increase will cause total revenue to increase. that he should reduce his prices. Yachts are luxury goods and therefore exhibit a high price elasticity of demand. Thus, reducing prices would increase revenue. that he should increase his prices. Demand for yachts is likely to be elastic because they are so much fun to drive. Thus, increasing prices would increase revenue. that he should reduce his prices. Yachts are a necessity and therefore have a low price elasticity of demand. Thus, reducing prices would increase revenue.
Business
1 answer:
Zielflug [23.3K]3 years ago
7 0

Answer:

that he should reduce his prices. Yachts are luxury goods and therefore exhibit a high price elasticity of demand. Thus, reducing prices would increase revenue.

Explanation:

Luxury goods usually have a high elasticity of demand when compared with necessity goods which are highly inelastic.

An elastic demand means that a change in price would have a considerable impact on quantity demanded.

Therefore, if the price of the yachts which is a luxury good with high elasticity is reduced, demand for yachts would increase and revenue would increase.

You might be interested in
Under Armour developed dynamic advertising, sponsorships of sports leagues, a creative Web site and celebrity spokespeople to pr
valkas [14]

Answer:

Integrated marketing communications.

Explanation:

Integrated marketing communications involved passing clear messages about a particular product to potential customers through different communication channels. It is used to create an awareness of the product to the customers.

Intergrated marketing communication involves delivering a consistent message about a product to potential customers through multiple platforms.

Integrated marketing communications helps a business to increase sales at a reduced cost.

8 0
3 years ago
Since your first​ birthday, your grandparents have been depositing $ 1 comma 000 into a savings account on every one of your bir
nika2105 [10]

Answer:

The amount of money in my savings account will be closest​ to $29,213

Explanation:

A fix Payment for a specified period of time is called annuity. The Compounding of these payment on a specified rate is known as Future value of annuity. In this question $1,000 per year payment for 18 years at 6% interest rate is also an annuity.

We can calculate the amount of saving by calculating the future value of the given annuity.

Formula for Future value of annuity  is as follow

Future value of annuity = FV = P x ( [ 1 + r ]^n - 1 ) / r

Where

P = Annual payment = $1,000

r = rate of return = 6%

n = number of years = 18 years

Placing Value in the formula

As on the 18th payment no compounding interest income is accrued yet because grandparent made it now.

Future value of annuity = FV = $1,000 + 1,000 x ( [ 1 + 6% ]^18-1 - 1 ) / 6%

Future value of annuity = FV = $1,000 + 1,000 x ( [ 1 + 0.06 ]^17 - 1 ) / 0.06

Future value of annuity = FV = $29,213

3 0
3 years ago
Refer to Exhibit 7.4, which shows short-run average cost curves. Average cost is lowest for a medium plant when output is _____
MatroZZZ [7]

Answer: c) between Qa and Qb

Explanation:

From the exhibit, the lowest cost will be recorded when output is between Qa and Qb because these points represent the lowest costs per unit for Curves A and C and the lowest points where output can be produced. Output being produced at costs lower than this is therefore the lowest for the medium plant.

3 0
3 years ago
The payroll register for D. Salah Company for the week ended May 18 indicated the following:
Tema [17]

Answer:

a. May 18

Dr Salaries expense $615000

Cr Social security tax payable $36900

Cr Medicare tax payable $9225

Cr Employment federal income tax payable $165000

Cr Salaries payable $403875

b. May 18

Dr Payroll tax expenses $48915

Cr Social security tax payable $36900

Cr Medicare tax payable $9225

Cr State unemployment taxes payable $2430

Cr Federal unemployment taxes payable $360

Explanation:

a. Preparation of the journal entry to record the payroll for the week of May 18.

May 18

Dr Salaries expense $615000

Cr Social security tax payable $36900

(615000*6%)

Cr Medicare tax payable $9225

(615000*1.5%)

Cr Employment federal income tax payable $165000

Cr Salaries payable $403875

($615000-$36900-$9225-$165000)

(To record the payroll for the week of May 18)

b. Preparation of the journal entry to record the payroll tax expense incurred for the week of May 18.

May 18

Dr Payroll tax expenses $48915

($36,900+$9225+$2430+$360)

Cr Social security tax payable $36,900 (615000*6%)

Cr Medicare tax payable $9225

(615000*1.5%)

Cr State unemployment taxes payable $2430 (45000*5.4%)

Cr Federal unemployment taxes payable $360 (45000*0.8%)

(To record the payroll tax expense incurred for the week of May 18)

8 0
2 years ago
The business cycle is thea.predictable changes in economic activity due to changes in government spending and taxes.b.irregular
Nitella [24]

Option B

The business cycle is irregular fluctuations in economic activity.

<u>Explanation:</u>

The business cycle is the constant rise and decline of financial growth that transpires overhead time. A cycle is a valuable mechanism for probing the market. It can further assist you to perform more reliable monetary choices. The state administration handles the business cycle.

The business cycle depicts the germination and bankruptcy in the making yield of assets and services in a marketplace. Business cycles are usually estimated relating to the boom and recession in the actual entire domestic goods or modified for inflation.

4 0
3 years ago
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