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Scorpion4ik [409]
3 years ago
8

Suppose the elasticity of demand for your parking lot spaces, which are located in a downtown business district, is –1.8, and th

e price of parking is $7 per day. Additionally, suppose that your MC is zero, and your capacity has been 80% full at 9 AM each day over the last month. Since demand is______, and the lot is below capacity,________is the optimal pricing strategy.
Business
1 answer:
LekaFEV [45]3 years ago
4 0

Answer:

ELASTIC

DECREASING PRICE

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.

The demand for your parking lot spaces is elastic. if the price of parking is reduced, the demand for parking would rise

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The goal of recruitment is to acquire a pool of candidates massive sufficient to include some talented prospects. True

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Lifestyle goals are what we need to obtain, and they may be a lot more meaningful than simply 'what we need to accomplish to live to tell the tale. not like everyday routines or quick-time period targets, they drive our behaviors over the long term.

The definition of a goal is something you aspire to do or wish to do or an aim can refer to scoring a point in certain sporting events. An instance of aim is you decide which you need to get out of debt. An example of aim is whilst you get the p.c. into the opposing crew's net in hockey.

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4 0
1 year ago
Discuss how the JIT concept differs between manufacturing and service companies.
mylen [45]

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Between service and manufacturing organizations, there are five key differences: the tangible nature of their output; production on demand or for inventory; production tailored to the needs of a particular customer; labour-intensive or automated operations; and the requirement for a physical production location.

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4 0
2 years ago
A consumer downloads 4 movies and 3 apps per week. Suppose the price is $4 per movie and $4 per app, and the marginal utility th
77julia77 [94]

Marginal utility will be calculated for movies by: 14/(4*4) which would mean 0.875 utils per dollar per movie. Whereas, for apps, it would be: 8/(3*4) which would mean utils per dollar per app to be 0.667. Hence, movies tend to carry higher utility.

3 0
3 years ago
Select the correct answer.
kramer

Answer: The department of Agriculture

Explanation:

3 0
3 years ago
Austin Grocers recently reported the following 2016 income statement (in millions of dollars): Sales $700 Operating costs includ
Zolol [24]

Answer:

$152.4 million

Explanation:

The computation of the projected net income is shown below:

As we know that

Net income = (EBIT - interest) × (1 - tax rate)

where,

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= $700 × 120% - ($700 × 120% × 65%)

= $840 - ($840 × 65%)

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The interest expense and tax rate is $40 and 40%

So, the projected net income is

= ($294 - $40) × (1 - 40%)

= $152.4 million

We simply applied the above formula so that the projected net income could be come

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3 years ago
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