Answer:
decrease total revenue of textbook sellers.
Explanation:
Demand is inelastic if a change in price has a very little effect on the quantity demanded.
If price is reduced, the quantity demanded of textbooks would change by a little amount, so total revenue would fall due to a reduction in the price of textbooks.
Total revenue = price × quantity
Answer:
A. Italy has a comparative advantage over the United States in producing wine.
Explanation:
A country has comparative advantage in production if it produces at a lower opportunity cost when compared with other countries. A country should specialise in the production of the good for whuch it has comparative advantage in and import goods for which it doesn't have comparative advantage in its production.
If Italy has comparative advantage in the production of wine and the US doesn't, Italy should produce wine and export to the US. While, US should produce pasta and export to Italy, if has a comparative advantage in the production of pasta.
A country has absolute advantage in the production of a good or service if it produces more quantity of the good when compared with other countries.
I hope my answer helps you
Answer:
Current break even units = $17,125
New break even point in units = $21,200
Explanation:
The computation of current break-even point in units and comparison with break-even point in units is shown below:-
Current break even units = Fixed cost ÷ Contribution margin per unit
= $411,000 ÷ ($60 - $36)
= $411,000 ÷ $24
= $17,125
New break even point in units = Fixed cost ÷ Contribution margin per unit
= ($411,000 + $34,200) ÷ ($57 - $36)
= $445,200 ÷ $21
= $21,200
Answer:
The answers to the three questions is answered in the file attached below
Explanation:
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Answer:
Personal Selling
Explanation:
According to my research on different sales techniques, I can say that based on the information provided within the question the techniques being mentioned is called Personal Selling. This is basically a technique that focuses on bringing the right product to the right person's attention. This in term leads to more sales since these products are what those individuals were thinking of purchasing.
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