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RideAnS [48]
3 years ago
14

At point A on a demand curve, price is $10 and quantity demanded is 100. At point B, price is $12 and quantity demanded is 80. W

hat does price elasticity of demand equal between points A and B
Business
1 answer:
Jet001 [13]3 years ago
5 0

Answer:

Price elasticity of demand is -1

Explanation:

Price elasticity of demand is defined as the degree of responsiveness of quantity demanded to changes in the price of a product. It is calculated by finding ratio of percentage change in demand to percentage change in price.

Percentage change in demand= (80-100)/100= -20/100

Percentage change in demand= -0.2

Percentage change in price= (12-10)/10

Percentage change in price= 2/10= 0.2

Elasticity= Percetage change in quantity demanded/ percentage change in price

Elasticity= -0.2/0.2= -1

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Krisp Systems decides to move production to a developing country where they are free to pump pollutants into the atmosphere with
Delvig [45]

Answer:

Environmental hazards and underdevelopment

Explanation:

Aware of existing policies to curb the careless release of pollutant to the atmosphere, relocating to developing country's amounts to refusal to pay taxes, cutting corners in order to make more profits and reduction in additional cost to operations. But most importantly, the company is not a promoter of the eradication of environmental hazards.

4 0
3 years ago
Ruby Company produces a chair that requires 7 yards of material per unit. The standard price of one yard of material is $14.40.
Usimov [2.4K]

Answer:

See below

Explanation:

a. Price variance

= (Actual price - Standard price) × Actual material

= ($15.12 - $14.40) × 44,600

= $0.72 × 44,600

= $32,112 Unfavourable

b. Quantity variance

= (Actual quantity - Standard quantity) × Standard price

= [44,600 - (6,500 × 7) ] × $14.40

= (44,600 - 45,500) × $14.40

= -900 × $14.40

= $12,960 Favourable

C. Cost variance

= Actual cost - Standard cost

= (44,600 × $15.12) - (7 × 6,500 × $14.40)

= $674,352 - $655,200

= $19,152Unfavourable

7 0
3 years ago
Cups of coffee of milk tea are substitutes. assume both have in elastic demand. Suppose exceptionally good weather increases the
nata0808 [166]

Answer:

In that situation, the demand of the Milk tea will fall.

Explanation:

In businesses subtitles are the type of products that serve a similar purpose but generally less favorable. You use substitutes as a second product when you somehow cannot use the first/main product.

In the example above,

Let's say that Coffee is people's favorite beverages. They like it better than milk tea. But, if they don't have enough money to buy their favorite coffee, they sometimes have to exchange it and settle with milk tea.

When weather increases the harvest of the coffee bean crop, the price of coffee will most likely fall down due to the abundance in resource.

When this happen, there will be lesser people who use the substitute product. in the end, the demand for the milk tea will fall.

8 0
3 years ago
Which of the following is true of business locations?
Mazyrski [523]

Answer:

B. Target market customers are essential factors for selecting business locations.

3 0
3 years ago
TJX's handling of its serious data breach is consistent with which one of the following?a) Stakeholder theoryb) Stockholder theo
klemol [59]

Answer:

Stockholder theory

Explanation:

Stockholder theory

This theory was introduced in 1960's by Milton Friedman ,

According to this theory , The managers of the corporation have a duty to maximize the returns of the shareholder .

Therefore , due to the cyclic nature of the business hierarchy , the corporation is mainly responsible  to its stockholders .

6 0
3 years ago
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