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DaniilM [7]
3 years ago
14

If Sam's, a local watering hole, increased the price of a pint of Guinness by 20%, it estimates the number of MBA students purch

asing Guinness would decrease by 4%. Based on these data ____________ total revenues would increase because demand is elastic. total revenues would decrease because demand is elastic. total revenues would remain the same. total revenues would increase because demand is inelastic
Business
1 answer:
Leni [432]3 years ago
6 0

Answer:

Total Revenues would increase because Demand is Inelastic

Explanation:

Demand is buyers ability & willingness to buy at a given price, time.

Elasticity of Demand is quantity demanded responsiveness to price change.

More Elastic Demand means quantity demanded responds highly to change in price. Percentage Change in Quantity Demanded > Percentage Change in Price. Elasticity of Demand [Δ%Q / Δ%P] >1 in this case. Price and Total Revenue (PxQ) are inversely related in this case ; i.e - price rise, TR fall & price fall, TR rise.

Less Elastic Demand means quantity demanded responds less to change in price. Percentage Change in Quantity Demanded < Percentage Change in Price. Elasticity of Demand [Δ%Q / Δ%P] < 1 in this case. Price and Total Revenue (PxQ) are positively related in this case ; i.e - price rise, TR rise & price fall, TR fall.

So: If Sam's Pint price change by 20% leads to demand fall by 4%, the demand is less elastic i.e < 1. Hence, Total Revenue will increase with increase in price.

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Answer:

A

Explanation:

there is no correlation between the clothes been made for customers and an increase in life expectancy  

The company's efficiency is increased as a result of tailoring customers clothes to be exactly what they want.

Also, Stitch Fix contributes to GDP as a result they can contribute to global economic growth

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3 years ago
When Callie developed a detailed description of her ideas for a gym and asked for feedback from women about the proposal, she wa
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<span>When Callie developed a detailed description of her ideas for a gym and asked for feedback from women about the proposal, she was engaging in? Concept testing. Concept testing is the act of getting opinions/reactions to a product or service prior to the product or service entering the market. This helps gage consumer interest when pulling in a group of potential customers. </span>
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3 years ago
Why does welsh imply that the authenticity of the dance is brought into question because of global sharing?
Margaret [11]

Irvine Welsh (born 27 September 1958) is a Scottish novelist, playwright and short story writer. His 1993 novel Trainspotting was made into a film of the same name. , Welsh says dance, music and its surrounding culture remain a major influence on his work.That is why he imply that the authenticity of the dance is brought into question because of global sharing?

When dance forms become globalized, the question of whether or not the style can maintain its authenticity is raised. This, in turn, raises the question of what it means to be culturally authentic in the first place, as well as whether or not a style of dance can truly be possessed by a person or people.

Dance is a deeply personal art form, steeped in traditions, emotions, and experiences. Authenticity is what keeps dance alive.

It's clear that authenticity is one of the most important values in our society - but it means different things to different people.For dancers, authenticity isn't just some word to be tossed around.

To learn more about of authenticity of the dance here

brainly.com/question/28179011

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3 0
1 year ago
Capital gains that are realized upon the sale of a municipal security are:________
baherus [9]

Answer:

A. I and III

Explanation:

Capital gains on the municipal securities are taxable at the Federal, State and Local Level. Only the interest income from the municipal securities will be exempted from the Federal income tax.

8 0
3 years ago
The most recent financial statements for Summer Tyme, Inc., are shown here:
d1i1m1o1n [39]

Answer:

External finance needed = $2,088

Explanation:

Note: See the attached excel file for the Calculation of ratios with respect to sales, Proforma Income Statement, Calculation of Retained Earnings and Equity, and Proforma Balance Sheet.

From the Proforma Balance Sheet in the attached excel file, we have:

Total Assets = $12,610

Total Liabilities = $10,448

Therefore, we have:

External finance needed = Total Assets - Total Liabilities = = $12,610 - $10,448 = $2,088

Download xlsx
5 0
3 years ago
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