1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Monica [59]
3 years ago
6

Sylvia's annual salary increases from $100,500 to $109,500. Sylvia decides to increase the number of vacations she takes per yea

r from three to four. Use the midpoint method to calculate her income elasticity of demand for vacations. Round your answer to two decimal places.
Business
1 answer:
Tasya [4]3 years ago
8 0

Answer:

Ei=3.33

Normal good

Explanation:

SOLUTION

Using the midpoint method to calculate her income elasticity

Ei=(Q2-Q1) /(I2-I1)*(I2+I1)/(Q2+Q1)

Q2=4 I2=109,500

Q1=3 I1=100,500

Ei=(4-3)/(109,500 - 100,500) *(109,500+100,500)/(4+3)

Ei=1/9000*210,000/7

Ei=3.33333333

Approximate to two decimal places

Ei=3.33

You might be interested in
Which of the following from the institutional view is true about the two essential dimensions of organization? a. The technical
____ [38]

Answer:

The institutional structure is that part of the organization most visible to the outside public

Explanation:

An organization ecosystem is defined simply as a system formed by the relationship or interactions of a community of organizations and their environment.

Organizational niche:

is simply an area, region or domain of unique environmental resources and needs.

An Organization is simply defined as a body or and entity that have clear inside/ outside boundary that work towards an explicit aims.

The institutional view is of the notion that when an organizational field is just getting started, diversity is the norm, but later there is a push for similarity.

4 0
3 years ago
How a product or service will be conceived or designed, how much it should cost, where and how it will be promoted, and how it w
Allisa [31]

Answer:

Marketing Plan

Explanation:

The marketing strategy of the company is one of the most crucial components of development and growth for the company.

It includes all the activities in which the company makes a strategy and plan of how shall the product be developed, what should be an approximate level of acceptance of cost, and further how it shall be ultimately delivered to maximum consumers.

It is thus, comprised of various steps involved as it relates to a complete task from the beginning to the end of producing and delivering the product.

6 0
3 years ago
The principal offensive strategy options include all of the following EXCEPT:A.using a cost advantage to attack competitors on t
Len [333]

Answer:

All are options for offensive strategy

Explanation:

In this question, we are trying to select an option which is not in terms with the other options as regards what principal offensive strategy should be.

Now, what the term principal offensive strategy refers to is that it is a type of corporate strategy that pushes for changes within the industry. What we are trying to say is that, the principal offensive strategy pursues an agenda that is pushing for a change within the industry.

Efforts might be concerted or individual steps might be taken. Hence, various techniques or strategies are in place to be used.

Offensive strategy types includes, an end run strategy where a company does not want competition and thus explore the part of the market with little or none.

A preemptive one which seek to conform some advantages on the company as it is the first one based on demographics

Others include: an acquisition and a direct attack strategy

3 0
3 years ago
Use the following information to calculate for the year ended December 31, 2018
Anastasy [175]

Answer:

a. $13,000

b. $17,000

c. $27,000

Explanation:

a= Net income (loss) = Service revenue - Other operating expenses

Net income (loss) = $25,000 - $12,000

Net income (loss) = $13,000

b. Ending retained earnings = Beginning retained earnings + Net income - Dividends

Ending retained earnings = $5,000 + $13,000 - $1,000

Ending retained earnings = $17,000

c. Total assets = Cash + Accounts receivable + Supplies + Equipment

Total assets = $15,000 + $3,000 + $3,000 + $6,000

Total assets = $27,000

8 0
3 years ago
Synergy Inc. manufactured 5,000 units during the month of March. They incurred direct materials cost of $100,000 and overhead co
babymother [125]

Answer:

D) $30,000

Explanation:

To calculate the prime cost per unit we can use the following formula:

prime cost per unit = direct materials per unit + direct labor per unit = $26

We were given the total direct materials, so to determine the direct per unit we divide that by the total units produced: $100,000 / 5,000 units = $20

direct labor per unit = prime cost per unit - direct materials per unit

direct labor per unit = $26 - $20 = $6

Now to calculate the total labor cost we multiply the direct labor per unit ($6) times 5,000 units = $30,000

3 0
4 years ago
Other questions:
  • Match the type of bank to
    14·1 answer
  • The following transactions are for Oriole Company.
    8·1 answer
  • Identify the statement about NGOs that is false.
    15·1 answer
  • Which of the following statements is true about taxes?
    9·1 answer
  • From an economic perspective, when consumers leave a fast-food restaurant because the lines to be served are too long, they have
    8·1 answer
  • John R. Park was president of Acme Markets, Inc., a national food chain headquartered in Philadelphia with 36,000 employees and
    8·1 answer
  • Which of the following would be considered an appraisal cost of quality?
    10·1 answer
  • Braxton's Cleaning Company stock is selling for $33.25 per share based on a required return of 11.7 percent. What is the the nex
    9·1 answer
  • The contribution margin ratio for Product Beautiful was 40%, its sales were $140,000, and its segment margin was $47,000. Q) If
    14·1 answer
  • Musician Productions, a maker of musical instruments based in Michigan, is preparing to open a branch office in Paris, France. I
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!