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IgorC [24]
3 years ago
12

Quizlet:Suppose the demand for a Czech novel translated into English is perfectly inelastic. Assume the initial price of the tra

nslated novel is ​$ 28.00 28.00 and the quantity demanded is 135 135 copies per year. If the price of the translated novel increases by ​$ 2.00 2.00​, then the quantity demanded will be nothing copies per year. ​Next, suppose the demand for a mystery novel by John Grisham John Grisham is infinitely elastic. In this​ example, assume the initial price of the novel is ​$ 24.00 24.00 and the quantity demanded is 27 27 thousand copies per year. If the price of the mystery novel increases by ​$ 3.00 3.00​, then the quantity demanded will be nothing copies per year.Quizlet
Business
1 answer:
grandymaker [24]3 years ago
4 0

Answer:for perfectly inelastic, the demand will be 135 per year, for infinite elastic the demand will be 27 or less as a result of increase in price

Explanation:

Perfectly inelastic demand : This can be defined as when a change in price however large causes no change in the quantity demanded of a commodity. In this case the initial price is $28.00 ,the quantity is 135, as a result of the increase in price by $2.00 to $30 it will cause no change in the quantity demanded of the novel ,the demand will still be 135

Infinite elastic demand :This is when a change in price brings about a more proportionate change in quantity demanded.. This is when a consumer react sharply to a change in price. If there is a fall in price, the quantity demanded for such a commodity increases. On the other hand, if there is an increase in price the quantity demanded falls..in this case as a result of an increase in price by $3.00 The consumer will reduce to demand for more goods , the quantity demanded may be 27 or less than 27 as a result of increase in price.

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Suppose that the last four months of sales were 8, 10, 15, and 9 units, respectively. Suppose further that the last four forecas
Wewaii [24]

Answer:

3

Explanation:

Data provided in the question:

Sales for the last four months :

8, 10, 15, and 9 units

Last four forecast of sales:

9, 11, 8 and 12 units

Now,

The mean absolute deviation (MAD) value of these forecast will be calculated as:

MAD = [ ∑|Sales - Forecast sales| ] ÷ [ Total number of forecast ]

or

MAD =  [ |8 - 9| + |10 - 11| + |15 - 8| + |9 - 12| ] ÷ 4

or

MAD = [ 1 + 1 + 7 + 3 ] ÷ 4

or

MAD = 12 ÷ 4

or

MAD = 3

4 0
2 years ago
Barbara Flynn is in charge of maintaining hospital supplies at General Hospital. During the past year, the mean lead time demand
Archy [21]

Answer:

A. 12 units

B. 77 units

Explanation:

A. Calculation to determine What safety stock level do you recommend for BX-5

Using this formula

Safety stock = Z * Standard deviation of demand

Let plug in the formula

Safety stock= 1.65* 7

Safety stock= 11.55 units

Safety stock=12 units (Approximately)

Therefore The safety stock level recommended for BX-5 is 12 Units

b. Calculation to determine What is the appropiate reorder point

Using this formula

Appropriate re-order point = Mean lead time demand + Safety stock

Let plug in the formula

Appropriate re-order point = 65 + 12

Appropriate re-order point = 77 units

Therefore the appropiate reorder point will be 77 units

4 0
2 years ago
Identify whether the statements below are true or false by dragging and dropping the appropriate term into the bin provided.
Tema [17]

<u>Solution and Explanation:</u>

1. False-   Long run Economic growth is likely to be sustainable because of finite natural resources as othe man made resources will be available to sustain growth.  

2. False-    In mordern economy posesing few natural resources will not affect a country to develop economically; human resources and man made resources will also contribute. Foreign trade can also play an important role towards growth, in the absence of abundant natural resources.

3. True-   Natural resources are vital, and mostly exhaustible. Hence it is very essential to find suitable alternatives.

4. False- Economies of 21st century depend on human capital due to depletable atural resources.

5. True - In the 19th century, minerals and farming land were the most mportant resources, since self sustainability was in vogue.

7 0
3 years ago
Which of the following correctly defines a​ product?
Alisiya [41]

Answer: Option C            

                           

Explanation: In simple words, a product refers to an entity that that could be tangible or intangible and is produced by the manufacturer for satisfying the wants of its customers.

Hence anything that is offered to the market and has the ability to satisfy the needs of specified individuals will be classified as a product.

Thus, the correct option is C.

7 0
2 years ago
Zone of acceptance refers to consumers': Select one:
sesenic [268]

Answer:

Letter a is correct. <em>Acceptable range of prices for any purchase situation.</em>

Explanation:

<u>  The purchase decision</u> process is a systematic model that represents the rational or irrational steps a consumer goes through before making a purchase. These steps are related to solving needs, searching for information, evaluating similar alternatives, and post-purchase behavior.

The zone of acceptance is a step regarding the price range that the consumer is willing to pay for a particular product or service, and is influenced by each step of the consumer's buying decision.

6 0
3 years ago
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