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Alchen [17]
3 years ago
11

Nicolette raised her quantity demanded of hockey pucks from 100 to 150 when the price fell from $5 to $3 per puck. using the mid

point method, her price elasticity of demand is
Business
1 answer:
lorasvet [3.4K]3 years ago
7 0
By definition we have to:
 PED = ((Q2-Q1) ÷ (Q2 + Q1) / 2) / ((P2-P1) ÷ (P2 + P1) / 2)
 P1 = Price Point 1
 Q1 = Quantity Point 1
 P2 = Price Point 2
 Q2 = Quantity Point 2
 Substituting the values we have:
 PED = ((150-100) ÷ (150 + 100) / 2)/((3-5) ÷ (3 + 5) / 2)
 PED = -0.8
 answer:
 her price elasticity of demand is -0.8
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Exercise 4-11 Computing net sales for multiple-step income statement LO P4 A company reports the following sales-related informa
dezoksy [38]

Answer:

Net sales revenue= 220,100

Explanation:

Giving the following information:

Sales, gross $ 245,000

Sales returns and allowances $ 20,000

Sales discounts 4,900

Sales salaries expense 10,900

<u>Sales salaries expense is not a part of the net sales in a multiple-step income statement. The net sales are as follow:</u>

Sales= 245,000

Sales returns and allowances=  (20,000)

Sales discounts= (4,900)

Net sales revenue= 220,100

4 0
3 years ago
You interview 913 persons and only 5 prefer Cajun food. What percentage prefer Cajun food?
pantera1 [17]
0.00547645125%

5 / 913 = 0.00547645125
4 0
3 years ago
Read 2 more answers
describe the difference between autonomous expenditure and induced expenditure. Which sectors of the economy are assumed to have
Vika [28.1K]

Answer:

The difference between autonomous expenditure and induced expenditure is as follows:

The autonomous expenditure is incurred even without a disposable income.  The expenditure is incurred to provide basic necessities of life.  In such a situation, the person spends from savings account or borrows to ensure that the basic necessities are provided.

On the other hand, induced expenditure is a disposable income-based expenditure.  This implies that when disposable income rises, induced expenditure also rises, and vice versa.  Induced expenditure is usually incurred to fund normal goods and services and not necessities.  Without disposable income, there is no induced expenditure.

All the four sectors of the economy engage in these expenditures.  The public (government) and household sectors are mostly affected.  However, even the business and non-profit sectors are also affected by these types of expenditure.

Explanation:

We can distinguish between two types of aggregate expenditure.  The first one is autonomous aggregate expenditure, which does not vary with the level of real GDP while induced aggregate expenditure varies with real GDP.

3 0
2 years ago
Perform a sensitivity analysis by answering the following questions: a. What is the break-even point in sales dollars for RBC? b
Rzqust [24]

a). Break­even point = Total fixed costs ÷ Contribution margin ratio

Contribution ratio = Contribution margin ÷ Total sales

Contribution ratio = $822,212 ÷ $1,953,000 =  0.421

Break­even point = $520,000 ÷ 0.421= $1,235,154.

b). Margin of safety = Total Sales - Break-even point

Margin of safety = $1,953,000 – $1,235,154= $717,846.

c) Target profit =(Total fixed costs + Target profit) ÷ Contribution margin ratio

Target profit = ($520,000 + $200,000) ÷ 0.421= $720,000 ÷ 0.421= $1,710,214

Explanation:

The Data sheet has been added as an attachment

8 0
3 years ago
What does it mean to have an "absolute advantage” in production?
Shalnov [3]

Answer:

In economics, the principle of absolute advantage refers to the ability of a party (an individual, or firm, or country) to produce a greater quantity of a good, product, or service than competitors, using the same amount of resources

(i.e :  India has an absolute advantage in operating call centers compared to the Philippines because of its low cost of labor and abundant labor force.)

Explanation:

5 0
3 years ago
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