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Dmitry [639]
3 years ago
11

G If demand is elastic,

Business
2 answers:
Oliga [24]3 years ago
7 0

Answer:

a: fall in the price increases the total revenue. 

Explanation:

Demand is elastic if a small change in price has a greater effect on the quantity demanded. Coefficient of demand is usually greater than 1.

If demand is elastic and price is reduced, the quantity demanded increases and total revenue increases.

If demand ins elastic and price is increased, the quantity demanded falls and total revenue falls.

I hope my answer helps you

Diano4ka-milaya [45]3 years ago
6 0

Answer: a. fall in the price increases the total revenue

Explanation:

When Demand is considered Elastic, the quantity demanded of a good changes by a larger percentage than the change in price.

That means that if the price rises, there is a greater reduction in Quantity Demanded then the price.

Conversely, if there is a Price reduction, the Quantity Demanded increases more than the price reduction.

Using the Total Revenue Formula (quantity of goods sold multiplied by the price of the good) then, revenue will rise.

I have attached a graph that shows the impact of prices changing and it's effect on Quantity Demanded. Notice how wider the spaces between the Quantity Demanded and the Prices are.

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The level of productivity is now approximately 40.6 boxes/hr

<h3>What is Productivity</h3>

Productivity refers to a ratio between a output volume and volume of input.

<u>Given data</u>

Working hours = 2*8 hours = 16 hours

New productivity = 500 + 0.3*500

New productivity = 650 box/day

New productivity =650/16 box/hour

New productivity = 40.625 box/hour

Hence, the level of productivity is now approximately 40.6 boxes/hr

Therefore, the Option B is correct.

Read more about productivity

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2 years ago
1. Some scholars have argued that the parole system should be abolished. Do you agree or
ExtremeBDS [4]

Answer:

Yes, I agree.

Explanation:

I agree that the parole system should be abolished because there is a risk that the parolee may become a repeat offender. It too involves the risk that he won't, In case, be able to survive on his individual upon freedom, and will fall victim to permanent  homelessness, unemployment, social maladjustment. It may also involve the continuation of involvement by the criminal justice system.

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4 years ago
Mary ran into a store dedicated to the newest cat foods offered by her favorite pet food provider. she has so much fun interacti
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mary most likely found a pop-up store

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4 years ago
Which of the following is an example of direct labor cost for a cell phone manufacturer? a.salary of plant supervisor b.cost of
insens350 [35]

Answer:

d.cost of wages of assembly worker

Explanation:

The following are not related to cost of producing the cell phone because

a.salary of plant supervisor: Overall supervisors are accountable of various product of the organisation for example the plant might have five outputs with the cell phone being one of them therefore his/her labor costs are not related to a certain product.

b.cost of phone components : Direct labor is related to cost of paying workers in an organisation therefore cost of phone components doesn't have anything to do with people.

c.cost of oil lubricants for factory machinery : explanation is the same as in b

d.cost of wages of assembly worker : the worker the directly linked to the production of the product thus his/her wages are a direct labor cost to the manufacturer.

5 0
3 years ago
Suppose you are in charge of setting prices at a local ice cream shop. The business needs to increase its total revenue, and you
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Answer:

The price of ice-cream should be reduced.

Explanation:

As the price elasticity of demand is 1.8,which is given as

Price/Demand=1.8

As the values is greater than 1 this indicates that the price of the ice-cream is more than the demand of the ice-cream.

This indicates that the price is more so the price of ice-cream should be reduced.

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3 years ago
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