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Reil [10]
3 years ago
5

At a price of $200, a cell phone company manufactures 100000 phones. At a price of $300, the company produces 300000 phones. Wha

t is the price elasticity of supply? (Round your answer to two decimal places.)
Business
1 answer:
valkas [14]3 years ago
4 0

Answer:

2.5

Explanation:

P1=$200

P2=$300

S1=100000

S2=300000

The percentage change in price is:

\Delta P =\frac{300-200}{\frac{200+300}{2}}=0.4=40\%

The percentage change in supply is:

\Delta S =\frac{300000-100000}{\frac{100000+300000}{2}}=1=100\%

The price elasticity of supply is given by:

E=\frac{\Delta S}{\Delta P}=\frac{100\%}{40\%}=2.5

The price elasticity of supply is 2.5.

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Organizations cannot be successful if they do not pay attention to the forces in their external environment
aliya0001 [1]

Answer:

True

Explanation:

If the managers fails to pay attention, the organization cannot be successful

4 0
3 years ago
Words like denigrate, the undersigned, and expropriate are examples of high-level diction and should be used liberally in busine
rusak2 [61]

Answer:

False.

Explanation:

Communication through business messages should convey the information in the simplest words so that the other party can easily understand what is being said. It also needs to be brief and to the point.

Using high level diction liberally in business communication leads to unclear messaging. The reader may not know the meaning of the words so the aim of communication will be defeated.

Also high level diction can have different meanings in different circumstances.

High level diction should be used sparingly, and simple diction is preferred.

7 0
3 years ago
Read 2 more answers
Which of the following actions is likely to have the highest initialcost in terms of its impact on other parts of the organizati
avanturin [10]

Answer:

Replace existing equipment with newer, more efficient equipment. Although this option entails substantial up-front investment, you’re sure that you can more than make up the difference in lower production costs.

Explanation:

The action that is likely to have the highest initial cost in terms of its impact on other parts of the organization is to replace existing equipment with newer, more efficient equipment. Although this option entails substantial up-front investment, you’re sure that you can more than make up the difference in lower production costs. This because buying new equipment will require a big investment from the company at the beginning to cover its costs but this will later generate more productivity and lower production costs which will compensate the initial high cost.

The other options are not right because buying slightly lower-grade materials, including hardwood, aluminum, vinyl, and nylon can decrease the cost at the beginning but the company can have problems with the quality of the products which could be really costly. Also, lay off a portion of your workforce and then try to motivate everyone who’s left to work harder and this option also means selecting future hires from a lower-skill labor pool and paying lower wages will decrease labor costs at the beginning but can require a big investment later with the costs of the process to hire new people, compensations to the employees that were laid off and can also result on low quality job and productivity from lower-skill labor.

7 0
3 years ago
The economists at JET Consulting consider Campbell’s Soup to be an inferior good. During a recession, when the income in the eco
Ksenya-84 [330]

Answer:

Shift to right

increase

increase.

Explanation:

Demand curve:- It is a representation of number of units of a service will be bought at which price. It is a graph or plot between price and quantity.price on y-axis and quantity on x-axis.

To bring the equilibrium the the demand curve is needed to shift to right to increase the equilibrium of the price and quantity.

3 0
3 years ago
Under the driver responsibility program, you may be assigned a number of points for:
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<span>Under the driver responsibility program, you may be assigned a number of points for: every traffic conviction which did not result in a crash. In this instance, the number of points the driver accumulate is 2 points.</span>
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