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3 years ago

What effect does the availability of many substitutes have on the elasticity of demand for a good?

1 answer:

4 0

The availability of many substitutes increases the elasticity of demand for a good. With the presence of substitutes the consumer has more options to seek out if there are price changes, therefore, the consumer is highly responsive to price changes and thus the elasticity of the demand curve is higher if there are many substitutes.

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Using the Online Self Study Certifications table, answer the following question: At what individual price would revenue be maxim

Leona [35]

The individual price where the revenue would be maximized for the Certification in Online Counseling is <u>$190</u> with total revenue of $190,000.

<h3>What is total revenue?</h3>

The total revenue is a function of the units sold and the unit price.

To calculate the total revenue for each segment, the sales units per segment are multiplied by the segment's price.

TR = P * Q or Total Revenue = Price * Quantity.

<h3>Data and Calculations:</h3>

Online Self Study Certifications for Social Work License

Certification Certification Bundle

Customers in Online Counseling as a Group

Home Counselor

TR Counseling TR Group Home TR Bundle Segment 1 1000 $190 $190,000 $70 $70,000 $260 $260,000

Segment 2 1000 $150 150,000 $90 90,000 $240 240,000

Segment 3 1000 $95 95,000 $160 160,000 $255 255,000

Segment 4 1000 $35 35,000 $195 195,000 $230 230,000

Learn more about calculating total revenue at brainly.com/question/25623677

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<h3>Question Completion: </h3>

Online Self Study Certifications for Social Work License

Certification Certification Bundle

Customers in Online Counseling as a Group

Home Counselor

TR Counseling TR Group Home TR Bundle Segment 1 1000 $190 $70 $260

Segment 2 1000 $150 $90 $240

Segment 3 1000 $95 $160 $255

Segment 4 1000 $35 $195 $230

Required:

At what individual price would the revenue be maximized for the Certification in Online Counseling?

5 0

2 years ago

alisa pursues the option to reallocate the bonus money which is currently only allocated to upper management. this will give emp

ad-work [718]

Alisa pursues the option to reallocate the bonus money which is currently only allocated to upper management.<u> Problem solving conflict </u>handling style does this exhibit.

<h3>Problem solving conflict style:</h3>

In problem- solving mode, the individualities or groups in conflict are asked to concentrate on the problem, not on each other, and to uncover the root cause of the problem. This approach recognizes the oddity of one side being fully right and the other being fully wrong.

<h3>What's the meaning of conflict style?</h3>

Conflict is frequently best understood by examining the consequences of colorful actions at moments in time. These actions are usefully distributed according to conflict styles. Each style is a way to meet one's requirements in a disagreement but may impact other people in different ways.

Learn more about conflict style:

brainly.com/question/29423622

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7 0

1 year ago

Dove and Eagle formed a business entity in which they are equal owners. Dove contributed cash of $100,000, and Eagle contributed

nlexa [21]

Answer:

S corporation

Explanation:

In the given case, The eagle basis at the closing of the year is 70,000 i.e. $40,000 + $30,000 (50% of $60,000)

In the case when the entity was a general partnership so 50% of $10,000 i.e. $5,000 would be added to the basis of Eagle

So here the type of entity that was formed is S corporation

The same is relevant

4 0

3 years ago

preparing adjusting and closing entries across two periods norton company closes its accounts on december 31 each year. the comp

Rama09 [41]

Answer:

Requirement: <em>Prepare journal entries to: (a) Accrue the salaries payable on December 31, b) Close the Salaries Expense account on December 31 (the account has a year-end balance of $250,000 after adjustments), (c) Record the salary payment on January 7</em>

Date Accounts title and Explanation Debit Credit

31-Dec Salaries expense $1,880

Salaries Payable $1,880

(To record accrued salaries )

31-Dec Retained Earnings $250,000

Salaries Expense $250000

(To close salaries expense account)

07-Jan Salaries Payable $1,880

Salaries expense $2,920

Cash $4,800

(To record payment of salary)

3 0

3 years ago

Good managers demonstrate commitment to ethical business practices with

Likurg_2 [28]

Good managers demonstrate commitment to ethical business practices with great leadership, authority, and responsibility.

7 0

3 years ago