The own price elasticity for Sam's Sandwiches would be -0.33
Price elasticity of demand measures how quantity demanded changes when there is a change in price.
Price elasticity of demand = midpoint change in quantity demanded / midpoint change in price
Midpoint change in quantity demanded = change in quantity demanded / average of both demands
- Change in quantity demanded = 80 - 70 = 10
- Average of both demands = (80 + 70) / 2 = 75
- Midpoint change in quantity demanded = 10/75 = 0.133
Midpoint change in price = change in price / average of both price
- change in price = $4 - $6 = $-2
- average of both prices = (4 + $6) / 2 = $5
- midpoint change in price = $-2 / $5 = -0.4
Price elasticity of demand =0.133 / -0.4 = -0.33
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Answer:
The correct answer is A that is Inventory management
Explanation:
Inventory management is the term which is related to the supervision of the non-capitalized assets which is inventory and the items of the stock. A supply chain management component, which is inventory management, supervises or look after the flow of goods from the makers or the manufacturers to the storage or warehouses.
So, the inventory management is the activity of the physical distribution which is vital in supervising the items which could lead to decrease in storage, shipping and other cost.
Collateral on a secured personal loan can include things like cash in a savings account, a car or even a home.
Answer:
a. The shirt's marginal utility divided by price was too low compared to other goods.
Explanation:
here are the options to this question :
a. The shirt's marginal utility divided by price was too low compared to other goods.
b. The shirt has zero marginal utility for you.
The shirt's marginal utility divided by price was too high compared to other goods.
c. The opportunity cost of the shirt was too low.
d. None of the above answers is correct.
Marginal utility is the change in utility as a result of consuming one extra unit of a good or service.
the goal of any rational consumer is to maximise utility.
If he shirt's marginal utility divided by price was too low compared to other goods, it means that the price is too high when compared to the marginal utility of the shirt.
Answer:
Explanation:
1. JOURNAL ENTRIES
1)
Dr Land 310,000
Cr Discount on Notes Payable 160,602
Cr Notes Payable 470,602
2)
Dr Equipment 332,635
Cr Discount on Notes Payable 127,365
Notes Payable 460,000
Calculation of equipment cost:
{($460,000*0.3909) + ($460,000*6%*5.5370)} = $179,814 + $152821 = $332,635
b)
1)
Dr Interest Expense (310,000*11%) 34,100
Cr Discount on Notes payable 34,100
2)
Dr Interest Expense (332,635*11%) 36,590
Cr Notes payable 8,990
Cr Cash (460,000*6%) 27,600