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Aleksandr [31]
4 years ago
10

At a specific point on the demand curve for backpacks, the elasticity of demand is calculated to be -0.5.a. At that point, we wo

uld describe demand as ( inelastic / elastic / unit elastic / fully supplied ).b. If the price of backpacks fell by 10%, the quantity demanded would rise by (10% /5% / 50% / 0% ) and revenue for the backpack industry would ( fall / rise) remain the same .c. If the price of backpacks rose by 20% the quantity demanded would fall by ( 20% / 10% / 25% / 40%) and revenue for the backpack industry would ( fall / rise) remain the same

Business
2 answers:
Kipish [7]4 years ago
8 0

Answer: A. Elastic , B. 5% Rise , C. 10% fall

Explanation:

the price elasticity for a normal good is negative. wen price increases  demand decreases.

demand is elastic a change in price will cause a change in  demand

a 10% decrease in in the price of backpacks will cause a 5% increase in demand and the revenue will rise.

a 20% increase in the price will cause a 10% decrease/fall in demand and revenue will fall

workings

change in demand when price decrease by 10% = -0.5(-10%) = 5%

change in demand when price increase by 20% =  -0.5(20) = 10%

anzhelika [568]4 years ago
4 0

Answer:

Inelastic; 5%; fall; 10%; rise

Explanation:

Price elasticity of demand is always negative for normal goods. This happens because of the law of demand, that demand falls with rise in price.

Price elasticity between 0 and 1 shows inelastic demand.

This means that there is smaller change in demand due to a greater change in price level.

Price elasticity of demand is -0.5.

If the price falls by 10%, demand will increase by 5%.

The revenue will fall, because of greater fall in price.

If the price increases by 20%, demand will fall by 10%.

Revenue will increase because of greater increase in price.

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A department transferred 7,000 units to the finished goods storeroom during a month. There was no beginning work in process inve
ivann1987 [24]

Answer:

It will be used using the Equivalent unit cost

$2.27

Explanation:

Period Cost / Equivalent Unit = Equivalent Unit Cost

16,800/7,400 = 2.27027 Equivalent Unit Cost

8 0
3 years ago
1 1.1 Briefly name and explain the aspects of the marking mix.​
mafiozo [28]

Answer: Marketing mix could described as methods taken by an organization to boast their brand or improve demand of product in the market.

Explanation:

Marketing mix could described as methods taken by an organization to boast their brand or improve demand of product in the market.

Aspects of marketing mix are Price, product, promotion and place.

Price; this refers to the value of a product. The organization in considering marketing mix would have to make her price affordable for the market in relation with the value of the product it's selling.

Product; this is the item being sold. The item must be valuable and worth the buy of the customers, this would improve consistent buying and referral by those who have already bought.

Promotion: this refers to actions taken to make known the product visibility in the market. This actions could be through branding, marketing with the aim of making the products demanded more than usual always.

Place: these is referred to as the target market. Every market is not a market, the place refers to those who are either already customers or would be customers. The organization must try to identify those who her products address and try selling to them.

5 0
3 years ago
Which of the following is the Federal Reserve unable to directly do
Alja [10]

Answer:

Increase and decrease the interest rate in the economy by a certain percentage

Explanation:

The Federal Reserve can influence the prevailing interest rates. However, it cannot increase or decrease the interest rate in the economy by a certain percentage. The Federal Reserve influences interests rate by adjusting the fed funds rate.  The feds fund rate is the interest rate that banks charge each other when they borrow from each other.

The Federal Reserve can lend to commercial banks, Adjust reserve requirements, and buy and sell U.S. securities.

3 0
3 years ago
Why might an economist favor activist policies in developed countries and laissez-faire policies in developing countries
Maslowich

Answer:

One of the main economic issues in developing countries is rampant corruption or extremely inefficient government institutions. This means that less government intervention is always better in developing countries.

On the other hand, in developed countries, the checks and balances system exists within government institutions and even though corruption may exist, it is not as widely spread. The most severe economic problem in developed countries is inequality and huge economic actors. This is why activist policies may be necessary in developed countries, at least in certain economic sectors.

5 0
3 years ago
On January 1, Year 1, Barnes Company issued a $100,000 installment note. The note had a 10-year term and an 8 percent interest r
Over [174]

Answer:

e) $93,097

Explanation:

Interest for 1st year = $100,000*8%

Interest for 1st year =$8,000

Principal repayment for 1st year = $14,903 - $8,000

Principal repayment for 1st year = $6,903

Principal balance on January 1,Year 2 = $100,000 - $6,903

Principal balance on January 1,Year 2 = $93,097

3 0
3 years ago
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