Answer:
Quantity demanded and sold expected to increased by 3.75 units.
Explanation:
Use Price elasticity of demand formula to calculate the quantity demanded and sold:
Price Elasticity of Demand = Change in the Quantity demanded / Chang in Price
- 1.5 = Change in the Quantity demanded / 17.50 - 20.00
- 1.5 = Change in the Quantity demanded / -2.50
-2.50 x -1.50 = Change in the Quantity demanded
Change in the Quantity demanded = 3.75
Quantity Demanded = 10 + 3.75 = 13.75
Answer: Option B
Explanation: In simple words, marketing refers to the set of activities that are performed by an organisation to attract the customers to buy the offered product or service. It involves interacting with the customers , either directly or indirectly, using various methods and make them aware of the products that the company is offering in the market.
Advertising, delivery, rebates and discounts are some of the many examples of marketing tools which a firm uses to enhance its demand. Providing after sales service so that customer would have positive experience and strong customer base could be maintained is also a part of marketing activity.
Marketing focuses on satisfying customers and not financing the operations or providing appropriate returns to investors.
Fixed deposit account. Savings account.
Price controls cap the price, but also create shortages. So some customers will be benefit because they will get the low price, but others will miss out entirely due to shortages and lose.
