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MAXImum [283]
2 years ago
10

A university conducts a survey of students, which shows that a 10 percent tuition hike would lead to a 7 percent decrease in the

enrollment. If the university wants to increase its total revanue it should tuition because the demand for education at this university is ______________.
Business
1 answer:
enyata [817]2 years ago
6 0

Answer:

Option A

Explanation:

Complete Question

A university conducts a survey of students, which shows that a 10 percent tuition hike would lead to a 12

percent decreases in the enrollment. If the university wants to increase its total revenue, it should ________

tuition because the demand for education at this university is ________.

A) not raise; elastic   B) raise; inelastic   C) not raise; inelastic   D) raise; elastic

Solution -

The demand for college in the market is elastic which means that variation in variables such as college fees deeply impact the demand. If college fees is increased, the intakes or enrollment will fall down which means that the demand is not stable or on the basis of quality. Therefore, the demand for the college will not rise on fees hike and it shall be an elastic demand.

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"For whom is a given mix of goods and services to be produced? How, in other words, are the society's outputs to be distributed
WINSTONCH [101]

Answer:

d. Private sector through the earning and spending of income.

Explanation:

In economics some major questions producers ask is for whom is production done, and how are output distributed in the economy.

For example ski equipment are produced for those people that practice skiing either as a sport or as a hobby. The particular set of people that use this product is targeted and provided with these goods.

Therefore these questions are answered in the private sector when the consumer earns income and spends it on their needs.

8 0
3 years ago
A stockbroker predicts whether a stock will go up or down by tossing a coin and so has a 50% chance of making a correct predicti
kolezko [41]

Answer:

A skilled  broker will be right at  60% of time compared to 50%

Explanation:

Solution

Given that:

Now,

Let X  be represented as = number of correct predictions/outcomes

X foll binomial distribution with n = 3 and p = 0.5 for broker who use a toss coin

Thus,

P(X = 3) = p^3 = 0.5^3 which gives us  = 0.125

So,

For a skilled broker, Y goes with the binomial distribution with n = 3 and p is = 0.6

Then,

P(Y = 3) = 0.6^3 = 0.216

We can therefore conclude who is skilled broker by making large number of observations

Hence, we say that a skilled broker will be correct 60% of time compared to 50% .

8 0
3 years ago
The understatement of the ending inventory balance causes:
Nina [5.8K]

Answer: The correct answer is "E. Cost of goods sold to be overstated and net income to be understated.".

Explanation: The understatement of the ending inventory balance causes:  

<u>Cost of goods sold to be overstated and net income to be understated.</u>

8 0
2 years ago
In the course of creating an effective business message, excellent business thinkers are most likely to
Irina18 [472]

Answer:

a) make well-reasoned conclusions and solutions ; & b) begin jotting down a rough draft right away to capture their ideas.

Explanation:

Effective Business message should be - complete, clear, concise, concrete, correct, courteous, coherent.

Rough draft is good for brainstorming & initial preliminary creation stage of business message. After having a bunch of ideas : its important to well arrange them in a coherent, clear way & giving complete, concise structure. This implies better understanding of conclusions, solutions.

4 0
2 years ago
Which of the following represents the normal sequence in which the below budgets are prepared? a. Sales budget, budgeted balance
zloy xaker [14]

Answer:

c. Sales budget, budgeted income statement, budgeted balance sheet

Explanation:

First, we calculate the sales for the period. It would also calculatethe cash proceeds from sales, which will be useful for the balance sheet.

With that, we can plug sales revenue into the income statement and calcualte the net income.

And with the income statement, we can solve for retained earnings and build up the balance sheet. Among other data

Doing it in any other order, we are going to leave blanks and need to do the next one to fill them. In the proposed orde,r we do not need information from the subsequent budget to complete the previous one, which is good.

6 0
2 years ago
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