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serg [7]
3 years ago
9

A car dealer wants to get rid of the stock of last year's model. Assume that the dealer knows from past experience that the pric

e elasticity of demand for cars is unitary (= 1). If the price of the cars is currently $20,000 and the dealer wants to increase the quantity demanded from 30 units to 50 units, what must the new price be if the dealer is to sell the 20 additional cars?
Business
2 answers:
Pie3 years ago
7 0

Answer: $6,600

Explanation: According to the question, The price elasticity of demand for cars is unitary meaning that any percentage increase or decrease in price of a product will give an equal increase or decrease in the demand for the product.

If cars are sold at $20,000 and current sales is 30 units. To increase the quantity sold to 50 units, there must be a price reduction.

what percentage of increase in quantity to be sold do we have? 50 - 30 = 20

20/30 = 66.67 appx 67%

Meaning that a 67% decrease in price of the car will give an equal 67% increase in sales quantity.

The new price of the car will be $20,000 * 67% = $13,400

new price = $20,000 - $13,400 = $6,600

horrorfan [7]3 years ago
4 0

Answer: The answer is $6,600

Explanation:

The unitary elasticity of demand means that the quantity and price must change in the same proportion .

Using the formula

Old quantity - New quantity / Old quantity × 100%

Old quantity = 30 units, New quantity = 50units

30 - 50 / 30 × 100%

-20/30 × 100%

= -0.666 × 100 ignore the minus sign)

= 67% approximately

The percentage change in cars is 67%

0.67 × 20,000 = 13,400

Therefore the new price is

20,000 - 13,400

= 6,600

Therefore the new price is $6,600

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Mariana [72]

Answer: Option B -- Turn the company into a public enterprise.

Explanation: Public enterprise can be defined as the type of organization, establishment or business that is fully or partly owned by the government but controlled by the public body/authority. Therefore, if the government wants to regulate the price of private company, which is duly imposed on the consumer, it's a must they go for public enterprise by turning the company into a public enterprise.

8 0
2 years ago
Kayak is a company that allows customers to efficiently search databases to find the best airline and hotel deals all over the W
maria [59]

Answer: (D) Marketing channel or channel of distribution

Explanation:    

 The marketing channel is one of the type of organization that perform various types of activities for purpose of transmission of the products and the services from the manufacturer to the customer or the end user.

It is also known as the distribution channel and it include the various types of business strategies for promoting the product.

According to the given question, the Kayak is one of the type of organization that publicly allow their database for the purpose of searching the best deals for the hotels or airline.

Therefore, The kayak is one of the part of marketing channel or the channel of distribution.    

7 0
3 years ago
A Super Happy Fun Ball is dropped from a height of 10 feet and rebounds 13/14 of the distance from which it fell. How many times
Phantasy [73]

Answer:

32

Explanation:

First bounce = 13 / 14 × 10 = 130 /14

using geometric progression where the common ratio = 13/14, the first bound = 130/14

ar^n-1 < 1

substitute the values into the equation

130 /14 × 13/14^(n-1) < 1

(13/14)^n-1 < 1÷ (130/14)

(13/14)^n-1 < 14 / 130

take log of both side

log (13 /14)^n-1 < log ( 14/130)

n-1 log (13 /14) < log  ( 14/130)

since log (13/14) negative

n-1 > (log( 14/130)) ÷ ( log (13/14)

n - 1 > 30.07

n > 30.07 + 1 > 31.07

The 32 bounce will the first less than 1 foot

3 0
3 years ago
Curtis williams is 69 years old. His wife, mary williams, is 67 years old. Curtis and mary plan to file a joint return. Mary is
kirill115 [55]

Curtis Williams is 69 years old. His wife, Mary Williams, is 67 years old. Curtis and Mary plan to file a joint return. Mary is legally blind. IRS provides high standard deduction to married couples who have age of 65 or above and blind or one of the partner is legally blind.

IRS states that if filling for joint return is done by married taxpayers in the year 2022 then normal standard deduction is $25,900. In this case Curtis and Mary both are over the age of 65 and Mary is blind too then as per IRS guidelines they will get $1,400 deduction per person for being above 65 plus Mary will get additional $1,400 deduction for being legally blind.

$25,900 + $1,400 + $1,400 + $1,400 = $30,100

Hence, Curtis and Mary's standard deduction is $30,100.

Read more about standard deduction on brainly:-

brainly.com/question/3158031

#SPJ4

3 0
2 years ago
When a new product is being introduced and reaching as many persons in the target market as quickly and as cost effectively as p
gtnhenbr [62]

Answer: Advertising

Explanation:

For a new company to quickly reach as many customers as quickly as possible, the company has to be involved in selling itself to the public and also intensive advertising.

Advertising is a form public awareness created for a particular product: which is new or already existing in a market. Advertising could involve the use of; Mass media, social media, fliers and banners.

6 0
3 years ago
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