1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
barxatty [35]
2 years ago
6

Danny "Dimes" Donahue is a neighborhood’s 9-year-old entrepreneur. His most recent venture is selling homemade brownies that he

bakes himself. At a price of $1.75 each, he sells 100. At a price of $1.25 each, he sells 300. Round your answer to 1 decimal place. What is the elasticity of demand? Is demand elastic or inelastic over this price range? If demand had the same elasticity for a price decline from $1.25 to $0.75 as it does for the decline from $1.75 to $1.25, would cutting the price from $1.25 to $0.75 increase or decrease Danny's total revenue?
Business
1 answer:
Ratling [72]2 years ago
5 0

Answer:

Relative responsiveness of consumer to change in price is called elasticity of demand.

Elasticity of demand here is 7.

Demand is highly elastic.

Cutting the price from $1.25 to $0.75, total revenue remains same as the elasticity of demand does not change.

Explanation:

Percentage change in quantity demanded due to percentage change in price.

Elasticity of demand=% change in quantity demanded/percentage change in price.

Small change in price caused a huge change in quantity demanded.

You might be interested in
Yowell Company began operations on January 1, Year 1. During Year 1, the company engaged in the following cash transactions: 1)
solniwko [45]

Answer:

The Yowell's net cash flow from operating activities is $14,500

Explanation:

In the direct method, the operating activities record revenues and expenses which are earned and incurred during a particular year.

The computation of the net cash flow from operating activities is shown below:

= Consulting services revenue - rent expense - employees' salaries expense

= $64,000 - $15,500 - $34,000

= $14,500

The other items which are mentioned in the question are related to the investing and the financing activities. So, these items would not be considered in the computation part.

5 0
2 years ago
Active trading in markets and competition among securities analysts helps ensure that: I. Security prices approach informational
Anika [276]

Answer:

The answer is: All the options are correct (I, II and III)

Explanation:

The larger the number of individuals (e.g. securities analysts, investors) who are informed about the price system of securities, the prices of securities will approach informational efficiency.

When the system approaches informational efficiency, you can determine which securities are riskier than others. Therefore you can price riskier securities so that they offer higher expected returns.

The other positive effect of informational efficacy is that investors can determine which securities are undervalued or overvalued.

8 0
3 years ago
What is the difference between ancient trade and modern trade ​
alexira [117]

Answer:

The main difference between traditional trade and modern trade is that, distribution in modern trade is more organized. Retailers often deal directly with manufacturers. Many large retail chains have integrated their services to offer their own brands in groceries and other goods.

Explanation:

6 0
3 years ago
Blossom Inc. uses the conventional retail method to determine its ending inventory at cost. Assume the beginning inventory at co
horsena [70]

Answer:

$1,012,696

Explanation:

The computation is shown below:

At Cost method:

Merchandise available for sale is :

= Beginning inventory + Purchases + Fright-in

= $403,500 + $3,608,000 + $169,500

= $4,181,000

At Retail method:

Merchandise available for sale:

= Beginning inventory + Purchases + Markups

= $604,000 + $5,393,600 + $424,000

= $6,421,600

Now

Ending inventory at retail is

= Retail  - Markdowns - Net sales

= $6,421,600 - $0 - $4,866,000

= $1,555,600

Now

Cost to retail ratio is

= $4,181,000÷ ($4,866,000 + $1,555,600)

= 65.10%

And finally the ending inventory at cost is

= $1,555,600 × 65.10%

= $1,012,696

8 0
3 years ago
What would the new equilibrium price of tutoring services be if carlos decided to stop tutoring?
wariber [46]
Given the table below

\begin{tabular}
{|p {1cm}|p {1.4cm}|p {1.4cm}|p {1.5cm}|p {1.4cm}|p {1.4cm}|}
{Price per hour&Quantity Supplied by Ann&Quantity Supplied by Bob&Quantity Supplied by Carlos&Market Quantity Supplied&Market Quantity Demanded\\[1ex]
\$50&94&35&19&148&5\\
45&93&33&14&140&8\\
40&90&30&10&130&11\\
35&81&27&6&114&16\\
30&68&20&2&90&22\\
25&50&12&0&62&30\\
20&32&7&0&39&39\\
15&20&0&0&20&47\\
10&10&0&0&10&57
\end{tabular}

From the table it can be seen that at the price of $20, the quantity supplied is equal to the quantity demanded equal to 39.

Also notice that at that price, Carlos is not supplying any service.

Therefore, the equilibruim price <span>of tutoring services be if Carlos decided to stop tutoring is $20.</span>
4 0
2 years ago
Other questions:
  • As a long-term investment at the beginning of the 2021 fiscal year, Florists International purchased 30% of Nursery Supplies Inc
    5·1 answer
  • Which of the following American groups benefited the most from China's turn toward capitalism?
    11·1 answer
  • Which of the following will help sober up of an intoxicated person
    10·1 answer
  • ​________ is/are an element of the vulnerability phase in retailing.
    11·1 answer
  • Firms using the __________ approach during the decline stage of the product life cycle will gradually reduce marketing expenditu
    6·1 answer
  • An appraiser encounters an underground storage tank and there are no signs of failure. An appraisal could be performed under the
    11·1 answer
  • Hillary enters into a shipment contract with a dress manufacturer for fifty red dresses. The dress manufacturer sends fifty blue
    11·1 answer
  • Kuhn does not have any retained earnings available to finance this project, so the firm will have to issue new common stock to h
    10·1 answer
  • Leslie has completed the organizational design of her firm but is now interested in the second key informal building block, whic
    8·1 answer
  • You are looking to purchase a new car, and you expect to have annual maintenance costs to keep it running. According to your cal
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!