Answer:
The approximate price elasticity of demand between these two prices is
- 0.42
Explanation:
In this question ,we use the formula of price elasticity of demand which is shown below:
Price elasticity of demand = Percentage change in quantity demanded ÷ Percentage change in price
where,
Percentage change in quantity demanded is calculated by
= New Quantity - Old quantity ÷ New Quantity + Old quantity
= 350 - 310 ÷ 350 + 310
= 40 ÷ 660
= 0.06060
Percentage change in price is calculated by
= New price - Old price ÷ New price + Old price
= 9 - 12 ÷ 9 + 12
= - 3 ÷ 21
= - 0.14285
Now put these values over the above formula
So, the answer is = 0.06060 ÷ - 0.14285 = - 0.42
Hence, the approximate price elasticity of demand between these two prices is - 0.42
Answer:
D) F.O.B.
Explanation:
Based on the scenario being described within the question it can be said that the included term would be F.O.B. This is a contractual term meaning Free on Board, and immediately specifies that the seller will deliver the goods at their own cost , through a specific route to the destination set forth by the buyer. Once the goods arrive the responsibility is no longer the sellers.
Negotiating prices!
(11.6.2017)
Answer:
The firm should decrease the amount of capital used.
Explanation:
The wage rate is $12 per hour and capital is rented at $8 per hour.
The marginal product of labor is 60 units of output per hour and the marginal product of capital is 45 units of output per hour.
A manager hires labor and rents capital equipment in a very competitive market.
The ratio of marginal product of labor and wage rate
= 
= 5
The ratio of marginal product of capital and rent
= 
= 5.625
Since the ratio is greater for capital, it means that the manager should decrease the amount of capital used in the production process.
Answer:
The forces were as follows :-
1. The old record keeping as well as expenditure methods were very time intensive as well as the accounting processes were not compatible with the revenue recognition processes either.
2. The sophistication of corporate processes has resulted in the development of new management accounting methods that have been incorporated in the area of digital tools which are used to generate regular, weekly , monthly and annual management reports.
3. Automation of operations has succeeded in reaching optimum potential productivity in certain fields that was not feasible in the past. The robotics control systems, operation optimization, etc. have raised the fixed cost share of the operating cost and the flexible budget has become a very minute share of the overall expenses of the investment.
