1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
sweet [91]
3 years ago
9

You are the manager of a movie theater that is the only one in a local market, so you have strong market power. You have extensi

vely researched your customer base and realize you have two types of segmentable customers: (i) students who have an elasticity of demand for movies of -2.7 and (ii) senior citizens who have an elasticity of demand for movies of -5.1. Which of the following pricing schemes would you employ to enhance profits?a. Set higher prices to the students as their demand is relatively more elastic.b. Set higher prices to the students as their demand is relatively more inelastic.c. Set higher prices to the senior citizens as their demand is relatively more elastic.d. Set higher prices to the senior citizens as their demand is relatively more inelastic.
Business
1 answer:
Gre4nikov [31]3 years ago
7 0

Answer: b. Set higher prices to the students as their demand is relatively more inelastic.

Explanation:

Price elasticity of demand measures the change in quantity demanded to changes in price levels.

If demand is inelastic, a small change in price has a small effect on quantity demanded. An inelastic demand usually has a coefficient of less than 1.

The elasticity of demand for students and senior citizens are both inelastic but that of the students is greater than that of senior citizens. They are less responsive to price changes when compared with senior citizens.

You might be interested in
Which is NOT an example of an expense a) advertising b)insurance c)dividends d)depreciation
docker41 [41]

Answer:

c. dividends

Explanation:

not payable... so

7 0
3 years ago
Discuss and analyze a situation where you worked on a team/project team consisting of diverse or intercultural team members. Con
pav-90 [236]

Explanation:

a. It is common that there are challenges in multicultural companies, communication can be a problem in companies where there are language barriers for example, which can cause significant communication noises that can cause misunderstanding and difficulty integrating a member of a culture different when joining a work team.

b. There are several different cultural values ​​that can directly influence the work environment, the issue of formality for example is a factor that differs from country to country, and the lack of formality of an employee for example can be seen as rude, invasive behavior or unprofessional, when in fact it may just be a cultural feature of countries where the work environment is less informal and more flexible.

c.  To make communication more effective, it is necessary to prepare the organization, that is, the development of policies, organizational culture and programs aimed at inclusion and respect for the different cultural values ​​present in the organization.

It is essential that the company prepare its managers and employees to receive workers from other countries, developing a favorable environment for the exchange of positive experiences, aimed at integration, collaboration and ethical behaviors.

4 0
3 years ago
If the price of cotton used in making blue jeans increases, which of the following will occur? a. The supply curve for jeans wil
Vanyuwa [196]

Answer:

a. The supply curve for jeans will shift leftward.

Explanation:

If the price of cotton used in making blue jeans increases, The cost of production would increase. This would discourage production and supply would fall. The fall in supply would shift the supply curve to the left.

Only a change in the price of blue jeans would lead to a movement along the demand curve for blue jeans.

I hope my answer helps you

5 0
3 years ago
alli has hired mark and alexis to work for his shipping company. mark can load a truck with packages in 120 minutes. alexis can
Setler [38]
It would be 120 minutes
5 0
3 years ago
Read 2 more answers
Suppose the economy is in a liquidity trap. True or false. A monetary contraction will not have any effect on the nominal intere
swat32

Answer:

False

Explanation:

When a country is in a liquidity trap , monetary policy both contractionary and expansionary would have an effect on interest rate

8 0
3 years ago
Other questions:
  • Which limitation of an income statement occurs when one company uses an accelerated depreciation method while another company us
    6·1 answer
  • At an auction sale, the buyer is the party making the offer, or bid. <br> a. True <br> b. False
    8·2 answers
  • Explain how incentives and the limited role of government function in a free enterprise system.
    5·1 answer
  • If the value of imports for the current year is $3 billion and the value of exports is $8 billion, what effect will this have on
    13·1 answer
  • Branding is used to A. identify, anticipate and satisfy customer requirements. B. determine which products are intended for mark
    14·1 answer
  • The CEO of Fly Corporation decides to change an accounting method at the end of the current year. The change results in reported
    10·1 answer
  • Slotkin Products purchased a machine for $65,000 on July 1, 2017. The company intends to depreciate it over 8 years using the do
    12·1 answer
  • When merchandise is returned for a refund or for credit to be applied to other purchases, the situation is called a(n)
    10·1 answer
  • Roger is engaging in HR planning. He is trying to predict what human resources will be needed in the coming year in his organiza
    5·1 answer
  • What percentage of donald (dax) cowart's body was burned in the fire on july 23,1973?
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!