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Liono4ka [1.6K]
3 years ago
14

A study by the National Bureau of Economic Research (NBER) examined the responsiveness of consumers to changes in gasoline price

s. The study determined that elasticity of demand for gasoline ranges from 0.21 to 0.75. According to the NBER study, what will happen if a major supplier of oil cuts production, causing the price of gasoline to increase greatly?
Business
1 answer:
Y_Kistochka [10]3 years ago
3 0

Answer:

Gasoline consumption will decrease by a small amount.

Explanation:

A coefficient of elasticity of less than one indicates that demand is inelastic.

Inelastic demand means that there's little or no change in quantity demanded when there's a change in the price of a product.

Quantity demanded has little or no sensitivity to changes in price.

If the coefficient of elasticity is greater than one, demand is elastic.

Elastic demand is when a small change in price has a greater effect on the quantity demanded.

If the coefficient of elasticity were equal to one, it means that demand is unit elastic.

Unit elastic demand means a change in price leads to the same proportional change on quantity demanded.

I hope my answer helps you

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A company with excess capacity must decide between scrapping or reworking units that do not pass inspection. The company has 19,
ANTONII [103]

Answer:

Incremental income as scrap=$66,500

Incremental income when re-worked= $81,700

Explanation:

Unit contribution from selling as scrap is the equal to the scrap value = 3.50

Unit contribution when reworked and sold as scrap =Selling price - cost of re-work= $8.90-4.60= $4.3

Incremental income as scrap = $3.50×19,000= $66,500

Incremental income when re-worked= $4.3 × 19,000 = $81,700

Incremental income as scrap=$66,500

Incremental income when re-worked= $81,700

5 0
3 years ago
Marcus is on a team to plan volunteer opportunities for employees in the company. His role is to handle public communications ab
arsen [322]

Answer:

Marcus should control his emotions

Explanation:

It is natural for Marcus to become angry because of Amy's action. Nonetheless, as team member, he will need to control himself, to be effective as such. Lest such furiosity turn out to become a chaos in a work environment and hinder efficiency, consequently frustrating the aim of the team.

4 0
3 years ago
Discuss how you react to changes in the environment. For example, there is a change in your class schedule or a change in the pr
Colt1911 [192]

Answer: my reaction would probably not be good

Explanation:

8 0
3 years ago
During _____ processes for a new project, the organization recognizes that a new project exists, and completes a project charter
never [62]

Answer: (D) Initiating

Explanation:

The Initiating processes is one of the phase in the project management life cycle that is necessary for defining the existing project's main objective, success criteria and also the outcome.

The initiating processes helps in providing the effective information or data that is necessary for the developing the project. It is also refers top the process for obtaining the authorization for the given project.    

 According to the given question, the initiating processes recognizing all the existing projects and also complete all the project charter as part of recognition process.  

 Therefore, Option (D) is correct answer.

5 0
3 years ago
Carmen Co. can further process Product J to produce Product D. Product J is currently selling for $20 per pound and costs $15.75
Vedmedyk [2.9K]

Answer:

a. Differential revenue = $18 per pound

Explanation:

Differential revenue refers to additional revenue per unit.

Current revenue per unit = $20 - $15.75 = $4.25 per unit on Product J

When it will be further processed to form Product D

Net proceeds to be realized from each unit of product D = $38

Net revenue = $38 - $24.30 = $13.7

Additional or differential revenue = $38 - $20 = $18 per unit

As for $20 selling price the revenue was recognized earlier now additional revenue = $38 - $20 = $18 per pound

Note: Revenue is the proceeds from sale and not the net profit.

Differential revenue = $18 per pound

6 0
3 years ago
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