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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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The key principle of supply chain management can be best summed up as ________ between multiple firms.
hram777 [196]

Answer:

Collaboration.

Explanation:

Supply chain management can be defined as the effective and efficient management of the flow of goods and services as well as all of the production processes involved in the transformation of raw materials into finished products that meet the insatiable want and need of the consumers. Generally, the supply chain management involves all the activities associated with planning, execution and supply of finished goods and services to the consumers.

The key principle of supply chain management can be best summed up as collaboration between multiple firms. These multiple firms include a company that is saddled with the responsibility of manufacturing, a wholesaler, and a retailer who typically sells the products to the customers or consumers.

Basically, these three (3) firms or individuals are required to collaborate with each other so as to meet the needs of the customers in a timely manner or fashion and at a fair price too.

3 0
3 years ago
A stores new environmental policy (PLS HELP ASAP)
Marat540 [252]

The policy is not practical because it is not enforceable. Lots of shops or businesses will not practice this as it will scare customers away.

<h3>Why is the policy not fair?</h3>

The policy is not fair because throw away paper is recyclable while plastic bags are not. Hence people who use paper should not be charged as much as those who use plastic bags, if at all.

<h3>What is the saving due if a person brings their own container to bag their groceries?</h3>

They most likely wills save 5% on every purchase made.

<h3>Why are environmental policies important?</h3>

The goal of environmental law is to safeguard the

  • land,
  • air,
  • water, and
  • soil.

Infractions of these rules result in a variety of penalties, including fines, community service, and, in severe circumstances, jail time.

Without environmental regulations, the government would be unable to penalize people who harm the environment.

Learn more about environmental policies:

brainly.com/question/3316812

#SPJ1

3 0
2 years ago
You decide that the best way to get hats and mittens to children is to start a business that sells hats and mittens. For every h
Marina CMI [18]

The main reason why a person would set up this business as a benefit corporation is to help school children.

<h3>What is a Business?</h3>

This refers to the buying and selling of goods or services with the main aim of making a profit.

Hence, we can see that based on the given scenario, there is the business of selling mittens and hats and also giving out a number for free to students, and the main reason why a person would set up this business as a benefit corporation is to help school children.

Read more about benefit corporations here:

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4 0
2 years ago
A 12-year, 5% coupon bond pays interest annually. The bond has a face value of $1,000.__________ Fill in the blank, read surroun
Nata [24]

Answer:

12.38% decrease

Explanation:

Given the following parameters

6%

Number of years = 12

Market yield I= 6 === 4.5

Present Value = 916.16 == 1045.59

PMT (annuity payment) = 50 (5%x1000)

Future value = 1000

Therefore, to solve for the percentage change, we have in the price of this bond in this situation, we have (916.16-1045.59) / 1045.59 = -0.1238

Hence, 12.38% decrease is the percentage change in the price of this bond if the market yield rises to 6% from the current yield of 4.5%,

5 0
3 years ago
Aryn is a music fan, and she enjoys learning about how speakers and sound systems are wired. She is reading books
Lana71 [14]

Answer:

an apprenticeship done on the job

Explanation:

An apprenticeship is a method for tutoring new practitioners of a profession.  It entails on-the-job training coupled with some study (classroom work and reading). Apprenticeship is provided by a skilled, experienced, and licensed professional. The apprentice gets to learn practical aspects of a profession while earning.

Aryn would be best with an apprenticeship as she will not spend a lot of time in class. She will, however, acquire the skills she needs. Some apprenticeship may lead to certification.

4 0
3 years ago
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