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3 years ago

The demand for chocolate chip cookie dough ice cream is likely quite elastic because

Business

1 answer:

Andrew [12]3 years ago

8 0

Answer:

Other flavors of ice cream are good substitutes for this particular flavor.

Explanation:

The other flavor of ice creams is the truly good substitution of Chocolate chips, in the ice cream industry there is a lot of flavors that substitute Chocolate chips So, the Demand for chocolate chips are elastic.

If there is a substitute for any commodity we can say that the other commodity demand is elastic.

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Mitchell Corporation manufactures a single product. The selling price is $85 per unit, and variable costs amount to $68 per unit

Likurg_2 [28]

Answer: $ 70,500

Explanation:

Given, Number of units = 1800

Per unit selling price = $85

Total Sales price = (Number of units ) x (Per unit selling price)

= 1800 x $ 85

= $153,000

Variable cost per unit = $68

Total variable cost = 1800 x $68 = $122,400

Contribution Margin = (Sales price ) - (Variable cost)

= $ (153000-122400)

= $30,600

Fixed cost = $16,500 per month

Profit = (Contribution Margin) - (Fixed cost)

= $(30,600-16,500)

= $14,100

PV ratio = (Contribution Margin) ÷ (Total sales) x 100%

= $ (30,600÷153,000)x 100%

=20%

Margin of Safety = (profit) ÷ (PV ratio)

= ($14,100) ÷ (20%)

= ($14,100) ÷ (0.20)

= $ 70,500

Hence, the monthly margin of safety = $ 70,500

8 0

3 years ago

Ryland, an officer for Sports Park, Inc., attempts to apply a duty-based approach to ethical reasoning in conflicts that occur o

saul85 [17]

Answer: The correct answer is B; <em>avoid unethical behavior regardless of the consequences. </em>

Explanation:

When a person uses unethical behavior and doesn't care about the consequences, the person can lose their job. They may also lose all credibility in their community. An employer can lose many things because of this behavior including morale, also credibility, and lose money. By avoiding this behavior, Ryland is doing the right thing even though he may make someone upset.

3 0

3 years ago

20. Which one of the following statements about national income is correct?

kicyunya [14]

Answer:

national income is the income received by households less personal taxes,,

3 0

3 years ago

At nick's bakery, the cost to make homemade chocolate cake is $3 per cake. as a result of selling three cakes, nick experiences

Kazeer [188]

Producer surplus is the difference between the amount a producer of a good receives and the minimum amount the producer is willing to accept for the good.

Cost to make 1 cake= $3

FIND SURPLUS PER CAKE
Surplus divided by 3 cakes
$19.50 ÷ 3= $6.50 surplus per cake

SALE PRICE OF CAKES
$3 cost + $6.50 surplus= $9.50

ANSWER: He must be selling his cakes for $9.50.

Hope this helps! :)

3 0

3 years ago

Sweet Catering completed the following selected transactions during May 2016: May 5: Received and paid electricity bill, $140 Ma

Alex73 [517]

Answer: (1) $5,290

(2) $3,470

Explanation:

Net Income from Accrual method:

= Served a banquet account - received and paid electricity bill + Received cash meals to customers - Accrued salary expense - Prepaid insurance expired

= $2,810 - $140 + $3,610 - $800 - $190

= $5,290

Net Income from Cash method:

= Received cash meals to customers - received and paid electricity bill

= $3,610 - $140

= $3,470

4 0

3 years ago