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barxatty [35]
3 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]3 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.

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Cali Communications reported the figures from its adjusted trial balance and from its​ multi-step income statement for its first
victus00 [196]

Answer:

The preparation is presented below:

Explanation:

The preparation of the retained earnings statement for the year ended July 31, 2018 is presented below:

                                        Cali ​Communications'

                              Retained Earning statement

                           For the year ended July 31, 2018

Beginning balance of retained earning $0

Add: Net income $5,150

Less: Cash Dividend paid -$0

Ending balance of retained earning $5,150

6 0
3 years ago
Julio is devising a marketing plan for introducing his company's products into a new market. julio comes up with customized mark
marissa [1.9K]

Julio is devising a marketing plan for introducing his company's products into a new market. Julio comes up with customized marketing strategies that cater to the unique needs of the new market. all his decisions involve risk and uncertainty as he is unaware of the conditions in the new market. The type of decision being made by Julio in the above situation is called a non-programmed decision. Non-programmed decision deals with risk and uncertainty. It is also complex and unstructured.

<span> </span>

5 0
2 years ago
Based on your understanding of the how these firms differ, identify which of the following are factors that affect multinational
scZoUnD [109]

Answer:

Language differences that make communication challenging among employees and managers.

Cultural diversity that affects the code of conduct of business.

Explanation:

Multinational firms are firms that operates and transact business activities outside their country of incorporation.

Despite the advantages of an extended reach and flexibility in operation , it also faces some challenges.

Language differences as different ethnics and culture are involved ,brings a challenge in communication between employees and manager. Citizen of a  francophone nation will struggle to communicate with another from an anglophone country.

Another challenge as mentioned in the question is that the code of conduct could be also be affected due to cultural diversity.

5 0
3 years ago
Joe works for a life insurance company that funds commercial investment projects and often insures these projects by insisting o
Mademuasel [1]

Answer: Participation

Explanation:

Participation financing is a firm of financing whereby a loan is shared by several parties because such loans are too huge and a party cannot take the loan alone.

Since we are informed that works for a life insurance company that funds commercial investment projects and often insures these projects by insisting on an equity position, this means that participation financing is being practiced.

7 0
3 years ago
You can save $1,000 per year for the next six years in an account earning 10 percent per year. How much will you have at the end
kicyunya [14]

Answer:

At the end of the sixth year, you will have:

= $8,487.17.

Explanation:

a) Data and Calculations:

Annual savings = $1,000

Interest rate per year = 10%

Period of savings = 6 years

First deposit = today

From an online financial calculator:

N (# of periods)  6

I/Y (Interest per year)  10

PV (Present Value)  0

PMT (Periodic Payment)  1000

 

Results

FV = $8,487.17

Sum of all periodic payments $6,000.00

Total Interest $2,487.17

8 0
3 years ago
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