Answer: The price elasticity of demand for good A is 0.67, and an increase in price will result in a increase in total revenue for good A
Explanation:
The following can be deduced form the question:
P1 = $50
P2 = $70
Q1 = 500 units
Q2 = 400 units
Percentage change in quantity = [Q2 - Q1 / (Q2 + Q1) ÷ 2 ] × 100
Percentage change in price = [P2 - P1 / (P2 + P1) ÷ 2 ] × 100
% change in quantity = (400 - 500)/(400 + 500)/2 × 100
= -100/450 × 100
= -22.22%
% change on price = (70 - 50)/(70 + 50)/2 × 100
= 20/60 × 100
= 33
Price elasticity of demand = % change in quantity / % change on price
= -22.22 / 33
= -0.67
This means that a 1% change in price will lead to a 0.67% change in quantity demanded. As there was a price change, there'll be a little change in quantity demanded because demand is inelastic. Thereby, he increase in price will lead to an increase in the total revenue.
Therefore, the price elasticity of demand for good A is 0.67, and an increase in price will result in an increase in total revenue for good A
Answer:
The correct answer is letter "B": It is designed for efficiency and low cost by minimizing inventory and maximizing efficiencies in process flow.
Explanation:
Efficient supply chains aim to produce high-quality products by reducing manufacturing costs to maximize revenues. As part of the improvement, efficiency relies on reducing the waste of the production process or shipping the goods earlier than planned.
Metta (lovingkindness/friendliness), karuna (compassion), mudita (empathetic joy), and upekkha (equanimity).
I am not Good at Business and all, but I think it's Experience that will satisfy.
Answer:
Options Include:
1. Years before Year 1 only.
2. Year 1 only.
3. Year 1 and years before and following Year 1.
<em>4. Year 1 and following years only. is Correct</em>
Explanation:
Prior cost of service is acknowledged whenever a contract is changed to provide added benefits for services previously received by workers.
The amortization of the prior service expense must be acknowledged as an element of the retirement cost during the future service periods of all those workers whom are active on the date of the plan modification and are entitled to receive rewards under the Scheme.
<em>Therefore, prior service costs are expressed throughout the financial statements for Year 1 once the plan was modified and even in the years that follow when it is amortized.</em>