A change in the cost of inputs would have the greatest impact on the price in the market for belts
Demand is elastic if a small percentage change in price leads to greater percentage change in quantity demanded. For example, a 10% change in price leads to a 50% change in the quantity demanded.
Demand is inelastic if a small percentage change in price leads to little or no change in the percentage change in quantity demanded. For example, a 10% change in price leads to a 5% change in the quantity demanded.
Supply is elastic if a small percentage change in price leads to greater percentage change in quantity supplied. For example, a 10% change in price leads to a 50% change in the quantity supplied.
Supply is inelastic if a small percentage change in price leads to little or no change in the percentage change in quantity supplied. For example, a 10% change in price leads to a 5% change in the quantity supplied.
An increase in cost would lead to a fall in supply as it would be more expensive to produce. A decrease in supply would lead to an increase in price.
In markets where the demand is elastic, the change in price would lead to a greater decrease in demand when compared with a market where demand is inelastic.
In markets where supply is inelastic, when price increases, suppliers would not be able to reduce supply as much as the market where supply is inelastic
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Answer:
$237,855
Explanation:
Opening inventory = $157,000
Purchases = $502,900
Sales revenue = $649,300
gross profit = 35% of sales
= 35% × $649,300
= $227,255
cost of goods sold = $649,300 - $227,255
= $422,045
Opening inventory + purchases - cost of goods sold = closing inventory
$157,000 + $502,900 - $422,045 = closing inventory
closing inventory = $237,855
An estimate of Coronado’s April 30 inventory that was destroyed by fire is $237,855
Answer:
the Consumer Price Index is rising
Explanation:
The CPI measures the rate of inflation, which is one of the greatest threats to a healthy economy. Inflation eats away at your standard of living if your income doesn't keep pace with rising prices—your cost of living increases over time. A high inflation rate can hurt the economy.
South Africa's National Youth Development Agency has launched the Ithubalentsha Micro Enterprise Programme, which will provide young aspirant and established entrepreneurs with training, mentorship, micro-enterprise finance, market linkages and access to business opportunities.
Answer:
A commercial for the drink SunnyD explains how nutritious it is in comparison to other, more "sugary" drinks. While children under 12 are the most likely consumers of SunnyD, the commercial is aimed at mothers. These mothers represent SunnyD's target market.
Explanation:
Marketing is a way in which the producer can provide information about it's goods and service to the customers. The marketing channels can either be direct or indirect depending on which strategy works best for the company. The major reason for marketing is to provide more information about the product and services to cover a larger audience. There is always potential in marketing to convert an audience to a loyal customers depending on the effectiveness of the marketing strategy. More customers usually translates to an increase in sales, and ultimately to an increase in profits. Increased profits is a reflection on business success since most companies get into competitive business to make profits. An example of marketing strategy that is often is used is target marketing.
Target marketing is a type of communication with your potential customers that involves providing more information to a select group of people in the market. This is done by tailoring the message in such a way to ensure that it is directed towards that particular group of people. In the question above, the commercial is made in a certain way to target mothers and possibly convert them to loyal customers.
