Answer:
10,900 units
Explanation:
The applicable formula is the formula for calculating the cost of goods sold, COGS.
COGS = The applicable formula is the formula for calculating the cost of goods sold, COGS.
COGS = Beginning inventory + purchases - closing inventory
In this case, COGS will be 11,000 units: Beginning balance 1100 and ending balance of 1000.
11,000 = 1100 + P -1000
11,000 = 1100-1000 +P
11,000 = 100 + P
P= 11,000 -100
P= 10,900
Productions should be 10,900
Cross price elasticity refers to the measure of responsiveness of the quantity demanded of a product to a change in price of another good.
From the question given above,
cross price elasticity = -20% / 10% = -2.
The cross price elasticity for the goods above is - 2. Which means that the goods are not substitutes.
A positive cross price elasticity which is greater than zero means that the goods are substitutes.
Answer:
It will increase, and then decrease as the customer becomes more knowledgeable
Explanation:
As a customer's product knowledge increases, what typically happens to the amount of search conducted by the consumer is that the amount will first increase, and then decrease as the customer becomes more knowledgeable.
