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exis [7]
3 years ago
8

If you were selling a product with an elasticity of 1.6 and you wanted to increase your revenue, what should you do to the price

?a. Lower priceb. Increase priceC. Do not change price
Business
1 answer:
docker41 [41]3 years ago
7 0

Answer:

If the product we are selling has an elasticity of 1.6 we should lower the price to increase revenues

Explanation:

Elasticy in demand above 1 means that are elastic goods. So the percentage in the rise in the quantity demanded is superior to the percentage in the fall of the price, so it will increase revenues.

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What the reasons for creating the necessity for restructuring the Organization Structure?
Nataly [62]

Answer:

To execute new strategy

Explanation:

Firms and organisations on a quarterly or yearly basis try to change their business strategies to improve revenues and to compete in the market. Overall, implementing a new strategy is complex and it is important to perform restructuring in order to effectively apply a strategy. A restructuring process helps to easily adopt a strategy without complexities.

4 0
3 years ago
Understanding a target customer base allows a company to
Sever21 [200]
B is the answer.

Hope this helps.
6 0
3 years ago
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Beball camp example covered in the class, let's assume the segment size is 9000, price per participant is $90, frequency is 1, v
stealth61 [152]

Answer:

<u>The correct answer is D. About 1.37%</u>

Explanation:

1. Let's review the information given to us to answer the question correctly:

Segment size = 9,000

Number of participants in the camp = x

Total Fixed Cost (TFC) = $ 9,000  

Variable Cost per Person = $ 5  

Price per Person = $ 90

Profit = $ 1,500

2. Based on the assumption provided above, what percentage of the segment should participate if the program wants to make $1500 profit?

We can calculate the variable cost, this way:

Total Variable Cost = Variable cost per person * Number of participants

Total Variable Cost = $ 5 * x

Total Variable Cost = $ 5x

We can calculate the total cost of the program, this way:

Total Cost of the program = Total Variable cost + Total Fixed Cost  

Total Cost of the program = $ 5x+ $ 9,000

Total cost of the program = $ 9,000 + 5x

We can calculate the revenue of the program, this way:

Total revenue of the program = Price per person * Number of participants + Profit

Total revenue of the program = $ 90 * x + $ 1,500

Total revenue of the program = $ 90x + $ 1,500

For Break-even:

Total Variable cost + Total Fixed Cost = Price per person * Number of participants

Replacing with the values we know and solving for x:

9,000 + 5x =  90x

5x - 90x = - 9,000  (Like terms)

-85x = -9,000

x =  -9,000/-85

x = 106 (rounding to the next whole)

For $ 1,500 of profits:

Number of participants at break-even + Profits/Price per participant

106 + 1,500/90 = 106 + 16.7 = 123

123/1,500 = 0.0137 = 1.37% (Rounding to two decimal places)

<u>The correct answer is D. About 1.37%</u>

5 0
3 years ago
A good time to Evaluate (the E in SMARTER) your long-term college or education goal would be __________
svlad2 [7]
D is the correct answer
6 0
3 years ago
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Which of the following statements about cover letters is false?
Radda [10]

The false statement about cover letters from the list of options is C. A cover letter is sent before a résumé so that the employer knows it is coming.

<h3>What is a Cover Letter?</h3>

This refers to the one-page document that a job seeker submits with his resume or CV that serves as an introduction.

Hence, we can see that based on the fact that cover letters are used by job seekers to make an introduction of themselves, we can see that sending it before a resume is false.

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