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sveticcg [70]
3 years ago
12

If the price elasticity of supply is 0.6, and a price increase led to a 3.7 percent increase in quantity supplied, then the pric

e increase is about a. 5.17 percent. b. 2.22 percent. c. 6.17 percent. d. 0.16 percent
Business
1 answer:
omeli [17]3 years ago
7 0

Answer: The price increase is about 6.17 percent.

Explanation:

The price elasticity of supply (PES) is the elasticity of the quantity supplied of a product to its price change. Price elasticity of supply is the ratio of the percentage change in the quantity supplied of a good or service to the percentage change in price.

The Price Elasticity of Supply is positive as a result of the law of supply that states that there's a direct relationship between the quantity supplied and price i.e. a price increase leads to an increase in quantity supplied and vice versa.

To solve the question,

PES = 0.6

% change in quantity supplied = 3.7

% change in price = Unknown

Let percentage change in price be denoted by b.

PES = % change in quantity demanded / % change in price

0.6 = 3.7 / b

Cross multiplying,

b = 3.7 / 0.6

b = 6.17

Recall that b is the percentage change on price.

Therefore, the percentage change in price is 6.17.

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In the advertising industry, terms such as new advertising, orchestration, and seamless communication were used to describe the
kolezko [41]

Answer:

The correct answer is letter "B": integration.

Explanation:

Advertising integration refers to bundling all mediums of communication possible business can use to promote its goods or services. This strategy reinforces the firm market position by repeating its advertising message constantly creating consistency and reducing the stress of having to create a different marketing approach for each advertising channel.

4 0
3 years ago
Sansa, Cercei, and Tyrion have just finished their team's project and are waiting for their supervisor's feedback. Cercei has be
Gnoma [55]

Answer:

Cercei's mood would be categorized as:

negative activated.

Explanation:

Moods do not last longer than emotions.  Like Cercei's that unengaged and quiet mood during the project duration, it starts and ends within some period of time.  However, a person's mood can be described as either negative or positive.  Since Cercei's mood was negative from the commencement of the project to its ending, one can conclude that she activated her negative mood during the period.

4 0
3 years ago
The Ramapo Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication and Assembly.
katen-ka-za [31]

Answer:

Allocated MOH per unit= $45.94

Explanation:

Giving the following information:

Product Number of Units Labor Hours Per Unit

Blinks 1,178 2  

Dinks 2,060 3

Estimated overhead costs for the period= 108,300 + 87,800= $196,100

Total direct labor hours= (1,178*2) + (2,060*3)= 8,536

<u>First, we need to calculate the predetermined overhead rate:</u>

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 196,100 / 8,536

Predetermined manufacturing overhead rate= $22.97 per direct labor hour

<u>Now, we allocate overhead to Blinks:</u>

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 22.97*2= $45.94

5 0
3 years ago
What type of brake lining is typically used on heavy-duty vehicles?
galina1969 [7]

For heavy-duty vehicles, sintered-metal brake linings are typically use for better performance and brake lining rivets is the best choice to secure brake shoe linings on trucks and other vehicles. Sintered brake linings offers a stable friction coefficient and produce good bite right away for safer travel. Moreover, they have good properties such as the ability to handle extreme heat well, they are resistant to fade, typically last longer than other types, and perform well even in rain and mud, which make it to be a choice for heavy-duty vehicles. <span>However, rivet heads may score the drum if the linings are not replaced soon enough, so proper maintenance should not be neglected.</span>

3 0
3 years ago
Prestigious economics professor, Tom Ruland, recently urged government policy makers to cut taxes and increase government spendi
xxTIMURxx [149]

Answer:

The correct answer is True.

Explanation:

These are the measures implemented by the Government aimed at channeling the economy towards certain goals. The fundamental tools available to the Government for this are the management of the volume and destination of public spending. Fiscal policy also includes ways to finance government expenses. For example, if the economy is entering a recessive phase, the Government can reduce taxes and increase spending, in order to expand aggregate demand and overcome the recession. If there is a very high level of unemployment, you can try to create new jobs and grant temporary benefits to the unemployed; If there is a high inflation rate, it will try to reduce spending to counteract possible demand pressures and moderate price rises.

The objectives of the policy are: moderate economic cycles, seek to raise the level of national income, redistribute income, provide public goods, increase employment, etc. However, in certain situations, achieving a fiscal policy objective will ultimately be conditioned by the general objectives of the economic policy pursued by the Government at a given time.

7 0
3 years ago
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