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wel
3 years ago
15

Assume that you own a small boutique hotel. In an attempt to raise revenue you reduce your rates by 20 percent. However, your re

venue falls. What does this indicate about the demand for your boutique hotel rooms
Business
1 answer:
BigorU [14]3 years ago
7 0

Answer:

Demand is inelastic

Explanation:

Demand is inelastic, means that the demand of the buyer does not change as the price varies or changes.

For example, the price rises by 15% and the demand falls by 1%, which is said to be that the demand is inelastic.

So, in this case, the boutique hotel, tries to increase the revenue through decreasing the rates through 20%, but the revenues decreases. Therefore, this situation is that the demand of the boutique hotel is inelastic.

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Capico will need credit for Research and development as it should research on the new drug and also study about its competitors

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3 years ago
Read 2 more answers
Blumen Textiles Corporation began April with a budget for 22,000 hours of production in the Weaving Department. The department h
tankabanditka [31]

Answer:

A. 1300 Favorable

B. $7,200 UnFavorable

Explanation:

A. Calculation to determine the variable factory overhead controllable variance

First step is to calculate the Budgeted rate of variable overhead

Budgeted rate of variable overhead = $50,600/22,000

Budgeted rate of variable overhead= $2.3per hour

Second step is to calculate the Standard variable overhead for actual production

Standard variable overhead for actual production = 23,000 x $2.3

Standard variable overhead for actual production = $52,900

Now let calculate the Variable factory overhead controllable variance using this formula

Variable factory overhead controllable variance = Standard variable overhead - Actual variable overhead

Let plug in the formula

Variable factory overhead controllable variance= $52,900 - ($86,400 - 34,800)

Variable factory overhead controllable variance= 1300 Favorable

Therefore Variable factory overhead controllable variance is 1300 Favorable

B. Calculation to determine the fixed factory overhead volume variance.

First step is to calculate the Predetermined fixed overhead rate using this formula

Predetermined fixed overhead rate = 34,800/29,000

Predetermined fixed overhead rate = $1.20 per hour

Second step is to calculate the Fixed overhead applied

Using this formula

Fixed overhead applied = Standard hours x Standard rate

Let plug in the formula

Fixed overhead applied= 23,000 x $1.20

Fixed overhead applied= $27,600

Now let calculate the Fixed overhead volume variance using this formula

Fixed overhead volume variance = Fixed overhead applied - Budgeted fixed overhead

Let plug in the formula

Fixed overhead volume variance= $27,600 - 34,800

Fixed overhead volume variance= $7,200 UnFavorable

Therefore The Fixed overhead volume variance is $7,200 UnFavorable

5 0
3 years ago
TB Problem Qu. 15-131 (Algo) Clayborn Corporation's net cash provided by operating activities... Clayborn Corporation's net cash
melomori [17]

Answer:

See below

Explanation:

Clayborn Corporation

Determination of free cash flow

Free cash flow = Net cash provided by operating activities - Capital expenditure - Cash dividends paid

Free cash flow = $118,800 - $96,300 - $30,200

Free cash flow = -$7,700

Therefore, Clayborn corporation's free cash flow is -$7,700

8 0
3 years ago
Neiman Marcus uses time-released atomizers which spray a lavender scent in the lingerie department. The managers say it enhances
Natalija [7]

Answer:

D.

Explanation:

Based on the information provided within the question it can be said that the design should positively influence consumer behavior. This is because it has been implemented specifically for this. Marcus hopes that the smell would put customers at ease and make them like the store as well as the products more, which in term would increase sales.

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3 years ago
There is a trend in the United States toward rediscovering the flavor of regional cooking and the use of locally grown ingredien
Llana [10]

Answer:

Lifestyles

Explanation:

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