Answer:
6%
Explanation:
As per given data
Quarter Real GDP ($billions) Long-Run Trend of Real GDP ($billions)
1 4,000 4,000
2 4,160 4,120
3 4,326 4,244
4 4,413 4,371
5 4,501 4,502
6 4,591 4,637
7 4,499 4,776
8 4,409 4,919
9 4,673 5,067
10 4,954 5,219
11 5,252 5,376
12 5,376 5,537
Growth of GDP = (DGP of Current/recent period - GDP of Prior period) / DGP of Prior period
In this question prior period is quarter 10 and current /recent period is quarter 11.
So, formula will be
Growth of GDP = (DGP of quarter 11 - GDP of quarter 10) / GDP of quarter 10
As we need to calculate the real GDP growth the formula will be as follow
Growth of real GDP = (Real DGP of quarter 11 - Real GDP of quarter 10) / Real GDP of quarter 10
Growth of real GDP = ($5,252 billion - $4,954 billion) / $4,954 billion
Growth of real GDP = $298 billion / $4,954 billion
Growth of real GDP = 6.02% = 6%
Answer:
C. the price is below the equilibrium price
Explanation:
Remember, in the law of demand and supply the quantity supplied is dependent on the value of the price of a good.
In this case the price is below the equilibrium price; meaning demand would be higher than the supply which results in the shortage of the good and the company therefore raises the price of the good.
For example, the price of oranges decrease in the equilibrium price (from $10 to $5), resulting in an increase in the demand for oranges.
The increase in demand would lead to shortage, making farmers increase price wanting to supply more.
Answer:
(A) -5/6
Explanation:
Price elasticity of demand = % change in quantity demanded ÷ % change in price
% change in quantity demanded = (60-40)/40 × 100 = 20/40 × 100 = 50%
% change in price = ($6-$15)/$15 × 100 = -$9/$15 × 100 = -60%
Price elasticity of demand = 50% ÷ -60% = -5/6
Other variable costs per unit subtracted from total COGS per unit equals contribution margin per unit.
Variable costs are expenses that vary in relation to production output or sales.
Variable costs play an important role in determining a product's contribution margin, which is used to calculate a company's break-even or target profit level.
Variable costs are a direct input in the calculation of contribution margin, which is the number of proceeds collected after deducting variable costs from sale proceeds.
Every dollar of contribution margin goes directly toward covering fixed costs; once all fixed costs are covered, every dollar of contribution margin goes toward profit.
As a result, variable costs are a necessary item for businesses attempting to determine their break-even point.
Hence, contribution margin per unit is the answer.
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The statement, "service quality is unaffected by the interpersonal communications and experiences involved in a service" is false.
Interpersonal communication is the verbal or nonverbal exchange of information, ideas, and feelings between two or more people. Information is frequently exchanged face-to-face using voice, body language, facial expressions, and gestures. An informational exchange between two or more people is referred to as interpersonal communication. It is also a field of study that aims to comprehend how people use verbal and nonverbal cues to achieve various relational and personal objectives. By assisting you in clearly expressing your ideas and intentions, interpersonal communication skills can help your personal and professional relationships. Your listening abilities will also help you better understand and empathize with others.
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