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Fed [463]
3 years ago
12

Assume an analyst has been hired to estimate the price elasticity of demand for hamburger (which sells for about $2.30 per pound

) and filet mignon (which sells for about $20 per pound), respectively. Considering the different determinants of the price elasticity of demand, we would expect the coefficient of price elasticity of demand to be:(A) larger for hamburger than for filet mignon.(B) larger for filet mignon than for hamburger.(C) approximately the same for both hamburger and filet mignon.(D) none of the above because different determinants would have opposing effects on the two estimates.
Business
1 answer:
Pepsi [2]3 years ago
6 0

Answer:

The correct answer is B

Explanation:

Price elasticity of the demand evaluates the demand responsiveness after the change or variation in the product own price.

The formula for computing the coefficient of price elasticity, is the factors which affect the elasticity and also elasticity is vital for business when deciding the prices.

So, Filet mignon(F) sells for $20 per pound when compared to that of hamburger (H) which sells the product for $2.30 per pound. F have the higher price as compare to the H, therefore, the coefficient of the price elasticity of demand in absolute value will be high or larger for F than that of H.

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To choose the best training method, a company should consider such factors as the number of people to be trained, the cost of tr
Nikitich [7]

Answer:

TRUE

Explanation:

Training and development describes the formal, ongoing effort that are made within organizations to improve the performance and self-fulfillment of their employees through a variety of educational methods and programs.

In order to choose the best training method, there are some factors that a company should consider. These factors include:

Number of people to be trained: people can learn more effectively in small groups, and, consequently, less effective in larger ones.

The cost of training: training budget is very essential in the decision process because training can take a lot of resources: money, materials, equipments e.t.c)

The objectives of training: the goal or objectives will vary depending on the organization and the kind of activities the organization plans to do during work.

Therefore, it is TRUE that to choose the best training method, a company should consider such factors as the number of people to be trained, the cost of training, and the objectives of the training.

8 0
3 years ago
Spree Company sold $769,300 of goods during the year at a cost of goods sold of $548,600. Inventory was $31,283 at the beginning
Zarrin [17]

Answer:

16.42

Explanation:

Data provided in the question:

Cost of goods sold =  $548,600

Beginning inventory of the year = $31,283

Ending inventory of the year = $35,538

Now,

the Inventory turnover ratio is calculated as;

⇒ ( Cost of goods sold ) ÷ ( Average inventory of the year )

Also,

Average inventory of the year = \frac{\textup{Beginning inventory + Ending inventory}}{\textup{2}}

= \frac{\$31,283+\$35,538}{\textup{2}}

= $33,410.5

Therefore,

Inventory turnover ratio = $548,600 ÷  $33,410.5

= 16.42

6 0
3 years ago
A broker-dealer and its agent are registered in State A. The agent tells a customer in State A that he is prohibited from making
OlgaM077 [116]

Answer:

There is a violation of Uniform State Law because the agent has made an offer to sell an unregistered non-exempt security in that State

Explanation:

The Uniform State Securities Law is also called blue sky law, and they are put in place at the State level to prevent fraud and to enforce security regulation.

This law was set up to handle investments that do not occur at the federal level. These are out of the purview of the SEC so states handle them.

In the given scenario the agent is trying to make a non exempt security exempt by buying it from the client.

This is an attempt to sell the securities to investors through fraudulent means and it is a violation of Uniform State Law

8 0
2 years ago
A rightward shift of the supply of loans curve would
Minchanka [31]

C. increase in the interest rate

3 0
2 years ago
What is the relationship between financial system and economy
pentagon [3]

Answer:

Financial markets help to efficiently direct the flow of savings and investment in the economy in ways that facilitate the accumulation of capital and the production of goods and services.

3 0
2 years ago
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