1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.

You might be interested in
A company received a bill for newspaper advertising services received, $400. The bill will be paid in 10 days. How would the tra
Aleksandr-060686 [28]
Debit Advertising expense $400, credit accounts payable 400.
6 0
3 years ago
The general services administration (gsa was set up as an independent agency _____.
ahrayia [7]
To Take care of the construction and operation of public buildings
3 0
3 years ago
Read 2 more answers
LeMay Department Store uses the retail inventory method to estimate ending inventory for its monthly financial statements. The f
Nutka1998 [239]

Answer:

Cost to retail ratio = 57.05%

Explanation:

Particulars                                                               Cost       Retail

Beginning Inventory                                            $46,000    $66,000

Add: Purchases                                                    $213,000   $406,000

Less: Purchases Return                                       $7,000       $9,000

Freight In                                                               $15,558          -

Net Markups                                                               -             $6,400

Good Avail. for Sales (Without markdowns)   $267,558   $469,000

Cost to retail ratio = $267,558/$469,000

Cost to retail ratio = 0.570486

Cost to retail ratio = 57.05%

6 0
3 years ago
According to the _________ concept, a firm must (1) find out what customers want and provide it, (2) make sure everyone in the o
In-s [12.5K]

Answer: marketing

                                     

Explanation:  In simple words, marketing refers to the set of activities that are performed by an organisation with the objective promoting the products that they are offering in the market.

It focuses on providing the customer those products that increases their level of satisfaction to the maximum level. It involves ascertaining the needs of customers and then making a suitable product.

Thus, from the above we can conclude that the correct option is C.

5 0
2 years ago
I need help! I want to make a dog walking, rescuing, and training business and I don't know how to convince my parents to let me
mixer [17]

You could start out by finding out how much demand there is for this kind of service. Go around your neighborhood and ask how likely everyone would be to utilize a dog walking or training business, and how much they would be willing to pay for such a service. Alternatively, you could create a survey online and send it to groups within your city. You can create a survey using Google Forms.

If there is enough demand for it and if the price is right, then present this information to your parents. This way you can show them that you're very serious about starting your own business and you have the know-how to do so.

Starting out with just a focus on dog-walking could be great, and then you could expand from there to training. If you have a good sized yard or a nearby dog park to work at for training, then you're set. After that you can move on to dog rescuing. Of course, you will need more space for rescuing dogs and will definitely need at least a yard.

Good luck with your parents and good luck with the business!

7 0
2 years ago
Other questions:
  • Upon discovering fraudulent data in a client’s tax return that the client would not correct, a CPA withdraws from the engagement
    14·2 answers
  • Which is the most challenging kind of supply chain to manage according to hau lee?
    6·1 answer
  • Which of the following bank services pays the customer compound interest?
    5·1 answer
  • Jonah is an avid visitor to various social networking sites. Both Jonah and his parents have noticed that all of his grades have
    12·1 answer
  • Sales management at universal containers wants product managers to become more involved with sales deals that are being delayed
    10·1 answer
  • Dubberly Corporation's cost formula for its manufacturing overhead is $31,600 per month plus $52 per machine-hour. For the month
    7·1 answer
  • US taxpayers who attended college or university in the past year can deduct the interest paid on student loans from their taxabl
    15·1 answer
  • Adam Jones, the purchasing manager for ACME Corporation, is under suspicion for committing fraud. His superiors believe he is ac
    6·1 answer
  • Common methods of alternative dispute resolution include all of the following EXCEPT________.
    7·1 answer
  • Compare and contrast eukaryotic and prokaryotic cells
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!