Answer:
Cost-volume-profit [CVP] Analysis
The cost-volume-profit analysis model assumes that the total fixed cost, the variable cost per unit, and the selling price per unit remain constant within the relevant range.
It is very difficult for a company to remain in the relevant range, where the assumptions will be obtained. Market forces, including the dynamics of competition change the underlying assumptions. For example, a company may become more efficient in its operations, thereby reducing its variable cost per unit. The total fixed cost may also change when the company increases its activity levels.
However, these limitations do not make the model less useful. It can be relied on to make short-run profit and pricing decisions.
Explanation:
The management of a business finds the CVP model useful in making important management decisions, especially decisions that relate to budgeting of production and sales, cost control, and profit planning. Management uses the CVP model to determine the break-even point in both units and sales dollars. Overall, management relies on the model to select its competitive products.
Answer:
The demand for hotel rooms is inelastic
Explanation:
An inelastic demand is the one that is not very sensitive to price changes (the price elasticity of demand is less than one). In this case, even though the RitzminusCarlton hotel cut they rates by $50 per night, they did not see a significant response in occupancy. It is not perfectly inelastic because in that case the RitminusCarlton hotel would not have seen any changes in occupancy (they saw a response in occupancy, but it was not meaningful). In the demand and supply graph, an ineslatic demand curve is steeper than the normal one. The more inelastic the more steeper the curve.
<u>Creativity</u> is a skill that involves being able to move beyond established ideas and rules to set up new models and processes
<h3>How to think creatively?</h3>
Finding novel approaches to issues and ways to deal with circumstances is the essence of creativity. This is a skill that people from all walks of life can benefit from learning; it is not just a talent reserved for artists, musicians, authors, or "right-brained" thinkers. These suggestions can be useful if you've ever sought to increase your creativity.
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Learn more about creativity
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What new laws to the New York factory investigating commissions request check all that apply
1. no factory workers under age 10
3. a minimum wage for all workers
4. increased sanitation standards
Based on his deductible and coinsurance cap, the amount that Barry will pay is <u>$4,560.</u>
<h3>Amount Barry will pay </h3>
Barry will have to pay the entire deductible of $1,200. The expenses that are left will then be shared between him and the insurer in a 20% - 80% ratio but he will not pay more than $5,000.
Total he will pay out of pocket is therefore:
= Deductible + ( 20% x (Medical expenses - deductible))
Solving gives:
= 1,200 + ( 20% x (18,000 - 1,200))
= $4,560
In conclusion, he will pay $4,560.
Find out more on insurance payments at brainly.com/question/25973180.
