Answer:
The answer is: Since the price elasticity of demand is lower than -1, then you should lower the price of your goods.
Explanation:
Price elasticity of demand is almost always negative, since a decrease in the price of a product should increase the quantity demanded for that product. In this case the price elasticity of demand is -1.5, that means that if you lower your price by 1%, you should be able to sell 1.5% more products. So when you lower your price, your total revenue should increase due to higher sales.
Answer:
D. Operational Auditing
Explanation:
Based on the information provided within the question it can be said that the term that is being described is called Operational Audit. Like mentioned in the question, this refers to an overall review of an operations effectiveness, efficiency and economy. This is done through a process that is made up of five different phases, these phases are: Selection, Planning, Execution, Reporting, and Follow-Up.
Answer:
Rational behaviour of the participants of the political process.
Explanation:
Public choice theory is the theory used in economic as well as political domain as a process of decision-making. It administers the use of economics-related knowledge in the field of politics and thus, focuses on solving various political problems with the help of economic tools. While making decision-related to political issues according to the public choice theory, it is important to have adequate economics and political knowledge, and the decision should not be based on any rational behavior.
Answer:
The correct answer is B.
Explanation:
Giving the following information:
The company uses the activity rates to assign overhead costs to products:
Processing customer orders $96.63 per customer order
Assembling products $2.45 per assembly hour
Setting up batches $58.89 per batch
Last year, Product F76D involved 9 customer orders, 436 assembly hours, and 26 batches.
Allocated overhead= 9*96.63 + 436*2.45 + 26*58.89= $3,469.01
Answer: aggregate demand; left; lower; lower; higher
Explanation:
If the economy is initially in equilibrium at full employment real GDP (QN), and a stock market crash reduces household wealth and lowers investor confidence, ceteris paribus, the (aggregate demand) curve will shift to the (left) resulting in a (lower) price level (P), (lower) output/real GDP level (Q), and (higher) unemployment level (U).
It should be noted that the crash in the stock market will lead to lesser funds in the economy and lessee funds with households and this will lead to reduction in the demand for goods which will shift the demand curve to the left.
aggregate demand; left; lower; lower; higher