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
Alexandra [31]
3 years ago
9

Suppose that over one range of​ prices, the absolute value of the price elasticity of demand varies from 15.0 to​ 2.5, and over

another range of​ prices, the absolute value of the price elasticity of demand varies from 1.5 to 0.75. What can you say about total revenue and the total revenue curve over these two ranges of the demand curve as price​ falls?
Business
1 answer:
Vera_Pavlovna [14]3 years ago
5 0

Answer:

In the first range of prices (with PED 15 - 2.5) as the price of the good or service falls, total revenue should increase. Imagine that a 1% reduction in price will result in a 15% increase in quantity demanded. The same happens when PED = 2.5, since a 1% reduction will increase quantity demanded by 2.5%.

e.g. price = $100, quantity demanded = 100, total revenue = $10,000

  • price falls to $99, quantity demanded increases to 115, total revenue = $11,385
  • price falls to $99, quantity demanded increases to 102.5, total revenue = $10,147.50

On the other range (PED = 1.5 - 0.75) as the price of the good or service falls, at first total revenue will increase but then it will decrease.

e.g. price = $100, quantity demanded = 100, total revenue = $10,000

  • price falls to $99, quantity demanded increases to 101.5, total revenue = $10,048.50
  • price falls to $99, quantity demanded increases to 100.75, total revenue = $9,974.25
You might be interested in
How prevalent is plagiarism on college campuses?
Tatiana [17]
Usually it isn't done much, because of the penalty of bad grades, and because frankly, the professors have seen it before, and therefore, only the boldest would consider it.
3 0
3 years ago
Suppose you are the Purchasing Manager for a large chain of restaurants in the United States, and you need to make your semiannu
mrs_skeptik [129]

Answer with Explanation:

Requirement 1.

The US import will increase by $1,500,000 due to purchase of indian tea product and this import of tea would result in increase of capital outflow as the Net export particular to importation is negative hence capital outflow is genuine effect.

Requirement 2.

The Net exports can be calculated as under:

Net Exports = Exports - Imports  = 0 - $1,500,000 = - $1,500,000

The US Net Exports would decrease by $1,500,000.

4 0
3 years ago
The Work Breakdown Structure (WBS) is normally developed by listing deliverables - major deliverables first and then progressive
AURORKA [14]

Answer:

The correct answer is True.

Explanation:

The steps to follow to create a work breakdown structure are as follows:

1. Organize a meeting and share with the main stakeholders: team members are one of the most valuable assets in the process of creating the work breakdown structure. They have the knowledge, experience and creativity necessary to define each deliverable reaching the most specific details.

2. Complete the definition of all project deliverables: it is about going one step beyond the level reached in the planning and 100% complete the information on all project deliverables, including internal and external, associating each one with its estimated completion time.

3. Break down each deliverable into smaller, more manageable parts: it is about achieving a realistic level of work planning by the project manager, which ensures that, without interfering with the total estimated project deadline and the overall plan, it can be completed by the work teams. It is about determining work packages. These units constitute the lowest level of the EDT and are pieces of work that are specifically assigned to a person or a team of people to be completed, under the supervision of the Project Director. It is recommended that they focus on a single point of responsibility. The work packages will be used later to define the activities and tasks in which the project is divided.

4. Review the results obtained: with the stakeholders, both at the time of finalizing the elaboration of the work breakdown structure, and when modifications or updates are included, if applicable. It is essential to avoid overlaps.

7 0
4 years ago
Jose received $550 for his birthday from his family. He wishes to buy a motorcycle and decides to use his birthday money towards
vladimir2022 [97]

Answer:

$619.75

Explanation:

This is a problem of future value with compounded interest.

The equation that describes the future value of an amount (P) deposited for a period of 'n' years at an annual rate (r) compounded quarterly is:

FV = P*(1+\frac{r}{4})^{4n}

For a $550 investment at 4% per year for 3 years, the future value is:

FV = 550*(1+\frac{0.04}{4})^{4*3}\\FV=\$619.75

In 3 years, Jose will have $619.75 available towards the down payment for his motorcycle.

8 0
3 years ago
I was doing good until this question
IrinaVladis [17]

i believe it is all but 2

7 0
3 years ago
Other questions:
  • A(n)__________ is a team intentionally composed of employees from different departments of an organization.
    13·2 answers
  • On october 1, goodwell company rented warehouse space to a tenant for $2,500 per month and received $12,500 for five months' ren
    15·1 answer
  • Producers will make 4000 refrigerators available when the unit price is $390. at a unit price of $430, 8000 refrigerators will b
    9·1 answer
  • Which of the following is a good internal control mechanism for cash disbursements? Multiple Choice Maximum purchase limits set
    9·1 answer
  • True or false alcohol and drug abuse only affects intoxicated individuals
    6·2 answers
  • Jayden is a project manager in a multinational company and is currently managing a complicated project. This has affected his me
    5·2 answers
  • Give your analysis about investment based on:
    8·1 answer
  • Assume the manager is located at point B in the diagram above, and he is charging a price of P0. What does the demand for the fi
    10·1 answer
  • Work performance information and cost forecasts are main outputs of which process
    14·1 answer
  • Galatea Foods was founded in Greece by Galatea Chronos in 1978, and the company spread rapidly through Western Europe. Ms. Chron
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!