<u>Production</u> refers to the manufacturing process that includes the transformation of raw materials resulting in finished products.
<h3>What is production?</h3>
It is the supply chain phase that includes all the processes related to the creation and elaboration of the product.
That is, it includes the operations necessary for the transformation of raw materials into products and their mass production.
Therefore, we can conclude that production refers to the manufacturing process that includes the transformation of raw materials resulting in finished products.
Learn more about supply chain stages here: brainly.com/question/878903
Answer:
He will sell 600 pizzas per week if he cuts the price by 10%.
Explanation:
Price Elasticity of demand measure the responsiveness of demand to change in the price of a product. It calculates the ratio of change in demand and change in price.
Price elasticity of demand = % change in demand / % change in price
-2 = % change in demand / 10%
% Change in in demand = -2 x 10%
% Change in in demand = -20%
Following the law of demand as price decreases the demand of the product increases. So the sale of Pizzas will be increased by 20%.
Current Sale of Pizzas = 500 pizzas
Increase in sales = 500 x 20% = 100 pizzas
Increased sale = 500 + 100 = 600 pizzas
Answer:
Quantity of beef demanded will decrease by 12%
Explanation:
Data provided in the question:
Price elasticity of demand for beef, Ed = 0.60
Increase in the price of beef = 20%
Now,
Price elasticity of demand for beef,
Ed = [ Percentage change in Quantity ] ÷ [ Percentage change in price ]
or
0.60 = [ Percentage change in Quantity ] ÷ 20%
or
Percentage change in Quantity = 0.60 × 20%
or
Percentage change in Quantity = 12%
Also,
Price and Quantity are inversely proportional
Hence,
With the increase in price, the quantity will decrease
Therefore,
Quantity of beef demanded will decrease by 12%
Answer:
positive public image, attracting more customers
Explanation:
Answer:
$3.10 per litre
Explanation:
Riverbed will agree to buy the additional cranberries for at most $3.10 per litre since this is their normal selling price. They can buy at this price and accept to not make profit since they are out to satisfy customers now and are not necessarily looking to make profit.
Therefore cost of purchase of extra cranberries would equal selling price at maximum