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Answer:
The manger did not make a mistake
To determine the effect that an increase in price would have on revenue, we have to determine the price elasticity of demand.
Price elasticity of demand measures the responsiveness of quantity demanded to changes in price
Price elasticity of demand = percentage in quantity demanded / percentage change in price
4% / 5% = 0.8
The elasticity of demand is less than 1, this means that demand is inelastic
When demand is inelastic, if price is increased, the fall in quantity demanded would be less than the increase in price. As a result, if price is increased total revenue would fall.
Based on the manger's calculation, demand is inelastic, so she was not wrong in increasing price.
Explanation:
Answer:The minimum amount is the price that will give a profit of $3700
Explanation:
The minimum amount the company should accept for product X if it's to be sold at the split off point it's maximum amount they will earn as profit if they sales after further procession.
The total cost the company will incur if they process further it's the cost they incurred at the split off point and at further procession which equals ($16,800+$15,000) =$31,800
On sales after procession they will earn a price of $35500 which means a profit of $3700 this means the firm should sale product X at spilt off point for a price that will bring a minimum profit of $3700.
Answer: The correct answer is "D. Its standards apply to all types of businesses, including electronics and chemicals.".
Explanation: The ISO 9000 standards are a set of Quality Control and quality management, established by the International Organization for Standardization (ISO). They can be applied in any type of organization or activity oriented to the production of goods or services. The standards include both the minimum content and the specific implementation guides and tools as well as the audit methods.
He may be liable for<u> "damages, fines, or imprisonment."</u>
Copyright law does not contain any proviso that enables unapproved gatherings to make individual duplicates of copyrighted items. Be that as it may, under the teaching of "reasonable utilize," people might be allowed to make reinforcement duplicates or authentic duplicates of a few materials as long as specific conditions are met. Making a duplicate of a copyrighted work for your very own usability is probably going to be considered copyright encroachment. Be that as it may, on the off chance that you are making a duplicate so you may utilize a copyrighted item on the off chance that the first is stolen, harmed or devastated, your direct may fall inside the teaching of reasonable utilize.
