Drivers are keeping their cars longer than ever before. The average age of all cars on the road is over 11 years, up from eight years in 1995. Motorists who buy a brand-new car typically keep it for about six years, up from about four years in 2006.
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Answer:
0.69
Explanation:
Given that we have the formula for calculating income elasticity of demand as the percent change in quantity demanded divided by the percent change in income, hence, we have the percent change in quantity demanded => 13 - 12 = 1 ÷ 12 = 0.083
the percent change in income => 280 - 250 = 30 ÷ 250 = 0.12
Therefore we have => 0.083 ÷ 0.12 = 0.69
Hence, the final answer is 0.69
Answer:
Decrease by $27000
Explanation:
Given that
Contribution margin = 44000
Initial fixed cost = 54000
Final fixed cost = 37000
Recall that
Net operating income = Contrubution Margin - Net fixed cost.
NOI = 44000 - (54000 - 37000)
NOI = 44000 - 17000
NOI = $27000
Thus, Net operating income decreased by 27000.
Answer:
Product placement
Explanation:
From the question we are informed about fashion academy in Chicago which promoted its products by collaborating with various film companies and allowing them to use its clothing and jewelry in the films. The academy also associated with television shows in which fashion is one of the attracting elements for the viewers. In this case, the best describes the action of the fashion academy is Product placement.
Product placement can be regarded as form of advertising whereby branded goods/services are been featured in a production with a large targets audience. Often, this product placement is been regarded as "embedded marketing". The product placements could be typically found in television shows as well as movies. companies may give payment in terms of cash or goods to production company in exchange for product placement rights.
