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Likurg_2 [28]
3 years ago
15

At the beginning of this year, daily consumption of gasoline in the US amounted to 344 million gallons. It is estimated that for

every 10% increase in the price of gasoline, quantity demanded falls by 1.9%. By the end of this year, the price of gasoline is expected to increase by 40 cents from $ 3.05 per gallon. Based on this information, what is the expected quantity demanded (QD) for gasoline at the end of this year
Business
1 answer:
Shkiper50 [21]3 years ago
8 0

Answer:

335.43 million gallons

Explanation:

price elasticity of demand (PED) = % change in quantity demanded / % change in price

PED = -1.9% / 10% = -0.19, very inelastic

expected price increase $0.40

% change in price = ($3.45 - $3.05) / $3.05 = 13.11%

% change in quantity demanded:

-0.19 = D / 13.11%

D = 2.49%

quantity demanded will decrease by 2.49%, from 344 million gallons to 335.43 million gallons

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For those brave enough to act effectively now to stabilise and protect your
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An understanding of cash flows is crucial to business success because it:

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One way companies can maintain liquidity during this pandemic is to control overhead expenses. Necessity is the mother of invention. Companies can have their team brainstorm on creative ways to cut down on operational, administrative and production costs. Some costs which can be considered for downward revision are rent, labor costs (such as business performance incentives), professional fees, marketing costs, advertising costs, public relations etc.

Cheers!

7 0
3 years ago
ou have just purchased a four-month, $630,000 negotiable CD, which will pay a 4.5 percent annual interest rate. a. If the market
Serjik [45]

Answer:

Explanation:

first will need to calculate the Fv future value of this CD

Fv = Pv ( 1 + R )^n n = 4 /12 = 0.333333,  r, rate = 4.5/100 = 0.045

Fv = $ 630000 ( 1+ 0.045)^0.33333 = $ 639311.69

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Pv = $ 639311.69  / ( 1.05)^0.3333 = $ 628998.41

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8 0
3 years ago
Holliman Corp. has current liabilities of $407,000, a quick ratio of 1.90, inventory turnover of 4.50, and a current ratio of 3.
Sati [7]

Answer:

Cost of goods will be $4670325

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We have given current liabilities = $407000

A quick ratio = 1.90

Current ratio is 3.40 and inventory turnover = 4.50

We know that current ratio is the ratio of current assets and current liabilities

So 3.4=\frac{current\ assets}{current\ liabilities}

So current assets = $1383800

Now quick ratio is equal to = \frac{current\ assets-inventory}{curtrent\ liabilities}

So 0.85=\frac{1383800-inventory}{407000}\\

Inventory = $1037850

Inventory turnover is given 4.5

So 4.5=\frac{cost\ of\ goods\ sold}{average\ inventory}

4.5=\frac{cost\ of\ goods\ sold}{1037850}

So cost of goods sold = 4.5×$1037850 = $4670325

5 0
3 years ago
Nimbus Inc. is a hybrid organization. The organizational structure of the company has been developed to combine geographic suppo
kolbaska11 [484]

Answer:

<em> B) that Nimbus has a matrix structure</em>

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Yes absolutely the above information is true, and from the following statement that can be fittingly inferred is given in OPTION(B).

<em>Because matrix structure is something in that organizational structure of the company has a single record that is given to multiple administrator.</em>

So, therefore as we can see in the scenario that Nimbus Inc. is also has a matrix structure.

7 0
3 years ago
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