Answer: The Demand should be in elastic
Explanation:
Peacock hotel rooms are a normal good and they have a negative price elasticity of demand, meaning a decrease in price of hotel rooms per night will increase quantity of hotels rooms demanded for Peacock.
Peacock is considering decreasing Prices to $ 175 per unit, for this decrease in Prices to lead to a decrease in total revenue, The demand for Peacock hotel rooms should be inelastic. When the demand for Peacock hotel rooms is inelastic a decrease in price to $ 175 will lead to a small change in the quantity of hotel rooms demanded for Peacock which will then lead to a decrease in Total Revenue.
Answer:
The portion of the initial amount that was given away is:
= 0.40
Explanation:
a) Data and Calculations:
Number of apples available = 10
Number of those apples given to a friend for Christmas = 4
The portion given away = 4/10 = 0.4
This represents 40% of the whole.
b) The portion given away to the friend for Christmas is a proportion of the whole. In this case, it represents just 40% of the 10 apples. This means that only 60% or 0.60 of the original apples are still available or on hand because 40% had been given away.
<span>With the increase in the hiring of workers each time, the production of the dresses also increased though not too much of an increase. So the slope of the marginal product curve when two to four workers are hired is downward sloping.</span>
Answer:
The depreciation expense for Year 1 is $9880
Explanation:
The cost of equipment to be recorded in the books is the price at which it was purchased and the cost incurred to bring it to intended use that is the installation cost. Thus, the cost of the equipment in the books will be recorded as,
Equipment = 88000 + 4000 = $84000
The insurance and maintenance are recurring expenses and are not capitalized.
The depreciation rate under units of production method is,
Depreciation rate = (cost - salvage value) / estimated useful life in units
Depreciation rate = (84000 - 8000) / 100000 = $0.76 per unit
The depreciation expense for Year 1 = 0.76 * 13000 = $9880
