500 HUNDRED IS THE AWNSER HOPE IT HELPS PLZ THANKS ME
Answer:
A) PED = 1.1
B) demand is elastic
C) Danny's total revenue would decrease
Explanation:
we can calculate the price elasticity of demand using the formula:
PED = % change in quantity demanded / % change in price = [(300 - 250) / 250] / [(2.25 - 2.75) / 2.75] = (50 / 250) / (-0.5 / 2.75) = 0.2 / 0.18 = 1.1
since PED = 1.1, the demand is elastic
if the PED is the same when the price decreases from $2.25 to $1.75, total revenue will :
when price = $2.25, total revenue = $2.25 x 300 = $675
when price = $1.75, total revenue = $1.75 x 373 = $652.75
*a 22.22% decrease in the price will cause a 24.44% increase (= 22.22% x 1.1) in the quantity demanded = 300 units + (300 x 24.44%) = 373.3 ≈ 373 units
Answer:
Gross profit= $54,700
Explanation:
Giving the following information:
Purchases $37,000
Merchandise inventory, September 1 6,100
Merchandise inventory, September 30 6,800
Sales 91,000
<u>First, we need to calculate the cost of goods sold:</u>
COGS= beginning finished inventory + cost of goods purchased - ending finished inventory
COGS= 6,100 + 37,000 - 6,800
COGS= $36,300
<u>Now, the gross profit:</u>
Gross profit= sales - COGS
Gross profit= 91,000 - 36,300
Gross profit= $54,700
Answer:
Explanation:
the difference between a successful and an unsuccessful decision is with a successful decision you would be successful and make profit since this is the subject of business and an unsuccessful decision will make you lose profit and make you lose into Investments. there is no luck vs skill this is all skill actually. skill has to do with this because you need to have certain experience in a certain thing to be having a successful decision.
A depository institution is a financial institution in the United States.
