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8090 [49]
4 years ago
11

A restaurant manager has estimated that the price elasticity of demand for meals is 2. If the restaurant increases menu prices b

y 5%, she can expect the number of meals sold to decrease by _____ and total revenue to _____.
Business
1 answer:
aniked [119]4 years ago
7 0

Answer:  10%, fall

Explanation:

Elasticity of demand = % change in Quantity demanded/ % change in price

therefore  % change in Quantity demanded

=2 x 5= 10%

ii) fall , this is due to the decrease in demand which is more than the increase in price.

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Which of the following will improve your bargaining position with customers a. ​The product your team produces has become more c
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"There are fewer close substitutes for the product your team supports"  will improve your bargaining position with customers.

<u>Option: B</u>

<u>Explanation:</u>

Bargaining is the procedure which is preferred by citizens not only with street shops but it is famous internationally too, where defense, economic trade deal, etc are signed between two different nations to corporate and shake hand of unity. Bargaining is more effective when one allow seller to know that the party itself have more substitutes if the product is not provided by the seller in appropriate rate.

For an instance, if India need to buy some rolling defense helicopters for nation from Russia but prices are high and United States is providing same material with lower price or may be with better rewards on buying from them.

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A United States-based faculty member goes on sabbatical and works in Finland for a government-run university teaching classes fo
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Answer:

A $38,000- Germany:  B $50,000- Finland: C $0 , America

Explanation:

GDP represents the total value of all the goods and services produced within the country. The expenditure method is one of the methods that economist use in calculating the value of GDP.  Expenditure refers to spending. In measuring the GDP, the expenditure method takes account of expenditure on all the output of a country. Economists add up the values of finals goods and services produced within the borders of a country and multiply them by their prices. The result is the nominal GDP.

The formula for calculating GDP is as follows

GDP equals consumer spending on goods and services plus investor spending on business capital goods plus government spending on public goods and services plus net exports​

In Germany, GDP will increase by $38,000. It is the value of the car produced in Germany. In the formula, it is part of the net exports for the country.

In Finland, the GDP will increase by $50,000. It is the value of services offered by the American while working in Finland. In Calculating GDP, all output within the country is considered regardless of the person who produced it.

In the USA, the GDP will increase by 0$. The car was bought in the US, but it was an import. The expenditure formula does not consider imports. The amount of $50,000 was not earned within the borders of the US.

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<span>Business incubators are a time honored tradition and have been around since the early 1700s.
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Think of an organization that you’re a part of. It could be a workplace, team, or club. Identify Schein’s four key elements in t
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One of the most important key elements in Schein’s four key elements according to me would be a common purpose because, without having a common purpose, people working in the organization will be disoriented and directionless. Thus, it can hamper the ultimate goal of the organization.

<h3>What is the common purpose of an organization?</h3>

A corporation with a clear purpose or undertaking is one that is simple to recognize and manage. A common purpose unifies personnel and facilitates them to understand the corporation’s direction.

Hence, according to me, among all the Schein’s four key elements in the organization’s structure, the Common purpose is the most key element.

Learn more about common purpose of an organization:

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