Answer:
a. 2.20
Explanation:
The computation of the price elasticity of supply is shown below;
Here,
P1 = $1 Q1 = 100
P2 = $1.20 Q2 = 150
We know that
Price elasticity = percentage change in quantity supplied ÷ percentage change in price
where
Percentage change in quantity supplied = (Q2-Q1)÷(Q2+Q1) ÷ 2)×100
= (150-100) ÷(150+100) ÷ 2)×100
= 40
And,
Percentage change in price is
= (P2-P1) ÷ (P2+P1) ÷ 2)×100
= ($1.20 - $1) ÷ ($1.20 + $1) ÷ 2)×100
= 18.1818
So, price elasticity of supply is
= 40 ÷ 18.1818
= 2.20
It is inaccurate to say FTC does not regulate funeral home services because it does not regulate this sector of business.
<h3>What is the function of Funeral rule of Federal Trade Commission?</h3>
The Federal Trade Commission (FTC) strives to stop unfair, dishonest, and fraudulent commercial activities. They also offer information to aid consumers in recognizing, avoiding, and stopping fraud and scams. The FTC Funeral rule became operative on April 30, 1984.
Every year, the FTC performs undercover inspections to ensure that funeral establishments are abiding by the Funeral Rule. The Funeral Rule is in effect whenever a consumer asks a funeral provider for information, if the consumer is looking into pre-need or at-need preparations.
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Process costing is an accounting methodology that traces and accumulates direct costs, and allocates indirect costs of a manufacturing process. Costs are assigned to products, usually in a large batch, which might include an entire month's production.
In the given Simple Model, I would like to add Requirements Gathering and Analysis after the Problem Statement. Because we know the problem description and we need to derive the requirements using the given data.
<h3><u>What exactly does "process modeling" mean?</u></h3>
Business processes or workflows are represented graphically in process modeling. Similar to a flow chart, each stage of the process is broken down so that a complete picture of the tasks involved in it within the context of the business environment is available.
A process model enables business processes to be visualized, helping firms better understand their internal business processes and manage and improve them. This is typically a flexible exercise for ongoing development.
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<u>What advantages does process modeling have?</u>
Business processes are given a visual representation through the process modeling method, making it easier for users to analyze them and determine how they might be improved. Process modeling also has additional advantages, such as:
- Increased effectiveness
- Gain transparency
- Ensure best practices
- Develop comprehension
- Business orchestration.
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Accurate measurement is VERY important in banking because banking is all about exact calculations. If one balance measure is off, the entire bank report will not be acurate. One little mess up and the entire calculation goes wrong.