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natta225 [31]
3 years ago
8

Consider firms that introduce new​ products, such as DVDs in 2001. When firms introduce new​ products, how do they typically det

ermine the price elasticity of demand for those​ products? Firms with new products often A. guess price elasticity of demand based on market competition. B. identify price elasticity of demand by asking for government assistance. C. identify price elasticity of demand by using price controls to set price floors. D. estimate price elasticity of demand by experimenting with different prices. E. approximate price elasticity of demand with market signals such as surpluses.
Business
1 answer:
lyudmila [28]3 years ago
5 0

Answer:

D. estimate price elasticity of demand by experimenting with different prices.

Explanation:

Price elasticity of demand is an economic concept which is a measure of the sensitivity of customers willingness to buy something to its price. If the customers readily change their buying behavior with a change in price of the product, it would mean that the demand for the product is elastic.

When firms are introducing new products, they generally determine the best selling price by experimenting with different prices and observing the buying behavior of customers. Then the choose the price which produces the maximum amount of revenue for the firm, which entails the price of the product and number of units sold.

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Management is needed in all types and sizes of organizations, at all organizational levels and in all organizational work areas,
Murrr4er [49]

Answer:

Universality of management

Explanation:

As the name suggest the management is universal that means the same technique, same procedure, policies, rules, regulations, etc are applicable in all level of the organizations i.e top, middle and lower level of management plus it also applies on the various size of the organizations and the working locations so that the efficiency and effectiveness of the task or work could be done in a smooth manner

5 0
4 years ago
What are three common types of federal taxes?
anastassius [24]

three common types of federal taxes are :

1. income tax

2. Property tax

3.Sales tax

5 0
3 years ago
Presented below is the stockholders' equity section of Oaks Corporation at December 31, 2012:
diamong [38]

Answer:

a. $1,765,000

Explanation:

Total stockholder’s equity on December 31, 2013  =  Total equity at end 2012 – amount paid for 3,000 shares were reacquired at $28 per share – amount paid for 3,000 shares were reacquired at $35 per share + amount collect from 1,800 shares of treasury stock were sold at $30 per share + net income of $450,000

=  $1,450,000 – 3,000 * $28 – 3,000 * $35 + 1,8000 *$30 + $450,000 = $1,765,000

4 0
3 years ago
An annual reporting period consisting of any twelve consecutive months is known as:________.1. Calendar year2. Natural business
11111nata11111 [884]

Answer:

4. Fiscal year

Explanation:

Reporting period refers to the period or time covered by a set of financial statements. It is the accounting period in which a given financial report will be covered. It may either be monthly, quarterly or yearly depending on organization's choice.

Now, fiscal year is an accounting period or reporting period that consist of 12 month used for accounting purposes. It is a yearly reporting period made up of 12 consecutive months. It may or may not correspond to the normal calendar year depending on the organization's choice or decision.

3 0
3 years ago
Identify the mission and strategy of your automobile repair garage. What are the manifestations of the 10 OM decisions at the ga
Mamont248 [21]

Answer:mission and vision of the garage

Explanation: Mission — Provide excellent, on time service at a reasonable price Strategy — keep cost down by employing only the people you need Order parts when needed Advertise for business through word of mouth, fends, and referrals. 1- Goods and services design — prices are set on a per hour shop labour basis determined by a preset formula 2- Quality — certification is required to be employed at the shop Poor labour could negatively impact the reputation of the business 3- Process and capacity design — Business is laid out for the day by the shop manager, and done so on a per job basis Those jobs taking the longest will be started earliest in the morning 4- Location selection — The shop was chosen in a pre-existing building, on a busy street with lots of passing traffic for high exposure 5- Layout design — The layout of the work area is designed for easy access to tools and other necessity.

5 0
3 years ago
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