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3 years ago

Suppose that business travelers and vacationers have the following demand for airline tickets from New York to Boston:

Business

1 answer:

Furkat [3]3 years ago

4 0

Answer

Price elasticiy of demand for business travelers: -0.16

Price elasticity of demand for vacationers: -0.29

Explanation:

To find the price elasticy of demand (PED) using the midpoint method, we use the following formula:

$PED = \frac{(Q2-Q1)/[(Q2+Q1)/2]}{(P2-P1)/[(P2+P1/2]}$

Where Q2 and P2 are the new quantity demanded and new price respectively, and Q1 and P1 are the old quantity demanded and price.

Plugging the amounts into the formula we obtain the results of the answer.

Because both results are in absolute value less than one (0.16 and 0.29), we can say that the PED of tickets, for both vacationers and Business traveleres, is relatively inelastic. (Demand falls less in proportion to the change in price).

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Cost Flow Relationships

Lady_Fox [76]

Answer:

(A) Cost of goods sold=$7,175,000

(B) Direct material cost= $3,655,000

Explanation:

(A) The cost of goods sold can be calculated as follows

Cost of goods sold= Sales-gross profit

Sales= $12,375,000

Gross profit= $5,200,000

Cost of goods sold= $12,375,000-$5,200,000

= $7,175,000

(B) The direct materials cost can be calculated as follows

Direct cost of materials= materials purchased-indirect materials-materials inventory

Materials purchased= 4,125,000

Indirect materials= 180,000

Materials inventory= 290,000

Direct materials cost= 4,125,000-180,000-290,000

= $3,655,000

Direct labor costs= Total manufacturing cost for the specified period-direct materials-factory overhead

Total manufacturing costs= 7,880,000

Direct materials= 3,655,000

Factory overhead= indirect labor+indirect materials+other factory overhead

= 410,000+180,000+810,000

= 1,400,000

Direct labor costs= 7,880,000-3,655,000-1,400,000

= $2,825,000

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3 years ago

Sean, age 37, wants to maximize his 2021 Roth IRA contribution and purchase as much Beyond Meat stock as possible. If BYND stock

blsea [12.9K]

37 shares that he can purchase

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3 years ago

Real estate brokers and their salespersons facilitate __________ by promoting the sale/lease of property, providing information

Alex73 [517]

Answer:

The correct answer is Transferability.

Explanation:

The term of transferability indicates the speed with which competitors can mimic the processes on which a company's competitive advantage is based. It also refers to the ease of certain raw materials to be taken from one place to another.

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3 years ago

Roberto Designers was organized on January 1, 2021. The firm was authorized to issue 100,000 shares of $6 par value common stock

DedPeter [7]

Answer:

The total stockholders' equity at the end of 2021 is $271,500

Explanation:

In order to calculate the total stockholders' equity at the end of 2021 we would have to use the following formula:

Stockholders' equity=Common stock+ Paid-in capital in excess of par+ Net income-Dividends- Treasury stock

Common stock= ( 10,000*$6 + 20,000*$6 ) = $180,000

Paid-in capital in excess of par=(10,000*($8-$6) + 20,000*($9-$6)=$ 80,000 Treasury stock= ( 3,500 * $11 )=$38,500

Therefore, Stockholders' equity= $180,000+$ 80,000 + $100,000-$ 50,000 - $38,500

Stockholders' equity= $271,500

The total stockholders' equity at the end of 2021 is $271,500

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3 years ago

Which of the following is true of an unsecured loan?

Ilya [14]

The statement "The value of an item where the borrowers owned but they are not at the repossession risk" is to be true.

The unsecured loan is the type of loan in which there is no need for any type of collateral property.

The lender does not takes the assets of the borrower as the security but it gives the approval of an unsecured loan depends upon the creditworthiness of the borrower.

Examples are:

Personal loans.
Students loans.
Credit cards.

The following information related to unsecured loans is

It does not for cars, houses, or any other large purchases
In this, the collateral does not involve.
It contains high interest.

Therefore we can conclude that, option d is correct.

Learn more about the unsecured loan here: brainly.com/question/8347317

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3 years ago

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