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
juin [17]
2 years ago
13

6. If the price elasticity of supply is 1.2, and a price increase led to a 5% increase in quantity supplied, then the price incr

ease is about
Business
1 answer:
PolarNik [594]2 years ago
5 0

Answer:

Price increase is about 4.2%

Explanation:

Price Elasticity of Supply (PES) is a measure of the responsiveness of the quantity of a particular good/service supplied to a change in price.

The price elasticity of supply is mathematically the ratio of the percentage change in quantity supplied to the percentage change in price.

PES = \frac{\%\ change\ in\ quantity}{\%\ change\ in\ price} \\where\\PES= 1.2\\\% change\ in\ quantity = 5\%\\\%\ change\ in\ price = ???\\\therefore 1.2 = \frac{5}{\%\ change\ in\ price}\\ \%\ change\ in\ price = \frac{5}{1.2} \\\%\ change\ in\ price = 4.16\%

You might be interested in
How might a person’s place in the life cycle influence investment decisions?
vfiekz [6]

Answer:

Student responses will vary, but should include: A young investor has years of earning power and can take greater risks because he/she has time to make-up for losses. An older investor needs more security and current income from their investments because they are using it to retire on or they need it to continually grow so that they can retire.

Explanation:

3 0
3 years ago
What type of witness is allowed to give opinions during testimony?
klio [65]
<span>An expert witness would be the answer you're looking for. </span>
8 0
3 years ago
Read 2 more answers
Which is a typical job role/career in business information management?
Crank
D. project manager
Explanation:
All of these are potential options for business information management graduates. However, perhaps the most important one is that of project manager. Project management is closely related to business information management. People in this career are able to understand how to use technology to gather data that can help them desing better projects. They are also skilled at transforming this data ito meaningful information. With this information, they are also able to analyze and propose strategies that benefit their companies and projects.
4 0
2 years ago
Discuss the unique marketing characteristics a product or service required based on the specific phase of the product life cycle
laiz [17]

Answer: The product life cycle of a unique marketing can be characterized by introduction, growth, maturity and decline.

Explanation:

The product life cycle of a unique marketing can be characterized by introduction, growth, maturity and decline.

Introduction; This is viewed as an entry level into the market. Where the goods begin to gain a little recognition

Growth; this is described as a movement from introduction to a fast or slow consistent rapid growth of the product in the market.

Maturity; is described as the growth from the growth category, where the product gain some market stability and is now known by the public.

Decline; is the stage of slow and loss of recognition in the market space which could be caused by lack of creativity or consistency drop

While some products may stay in a prolonged maturity state, all products eventually phase out of the market due to several factors including saturation, increased competition, decreased demand and dropping sales

5 0
2 years ago
Shmenson Company uses the periodic inventory system. Sales for 2020 were $470,000 while operating expenses were $175,000. Beginn
jeka94

Answer:

The net income  for 2020 was $90,000

Explanation:

Shmenson Company

Income Statement for the year ended 2020

Sales                                                                             $470,000

Less Cost of Sales

Beginning Inventories                           $70,000

Add Net purchases                              $180,000

Add Freight In                                         $15,000

Less Ending Inventories                      ($60,000)     ($205,000)

Gross Profit                                                                  $265,000

Less Expenses

Operating expenses                                                   ($175,000)

Net Income                                                                    $90,000

Conclusion

Thus, the net income  for 2020 was $90,000.

8 0
2 years ago
Other questions:
  • Classify the following descriptions of constraints as bounds, limitations, requirements, proportional relationships, or balance
    6·1 answer
  • Larry can vote in person at the company’s annual meeting, through the mail, or by transferring the right to vote to another pers
    7·2 answers
  • If consumption expenditures are $500 million, net investment is $100 million, depreciation equals $5 million, imports are $50 mi
    8·1 answer
  • A corporation issues 1,200,000 shares of stock at its beginning to shareholders. How many shares must a shareholder own to have
    8·2 answers
  • The unemployment rate in Economy X when it is growing normally is 5%. When Economy X is in a recession, the unemployment rate is
    13·1 answer
  • Regarding a broker's commission, the California Business and Professions Code requires that in the sale of residential property
    15·1 answer
  • Shelby's new job with the federal government provides a comfortable income and a fairly stable income. she would like to buy a n
    6·1 answer
  • According to the path-goal theory, employees with an internal locus of control should prefer a leader who is __________.
    8·1 answer
  • Which of the following is an example of an effective persuasive speech topic for a group of elementary school children?
    6·2 answers
  • Anyway hi, I'm Janis Ian/Janis Sarkasian, Mean Girls movie/musical introject, pronouns are she/sketch, I identify as a girl, and
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!