Answer:
that he should reduce his prices. Yachts are luxury goods and therefore exhibit a high price elasticity of demand. Thus, reducing prices would increase revenue.
Explanation:
Luxury goods usually have a high elasticity of demand when compared with necessity goods which are highly inelastic.
An elastic demand means that a change in price would have a considerable impact on quantity demanded.
Therefore, if the price of the yachts which is a luxury good with high elasticity is reduced, demand for yachts would increase and revenue would increase.
D. a firm that has some control over the price of the product it sells
"The three types of economic resources are also referred to as factors of production. Land (including all natural resources), Labor (including all human resources), Capital (including all man-made resources), and when you combine all of those you get production.
"
Answer:
The answer is the D
Explanation:
Because despite the fact that a research work has the correct interpretation of the information, the correct statistical analysis, understandable sea in a global vision and performing the correct emphasis on the statistics, all these well done works will be underestimated and lose importance if the Information has no direct and applicable relationship with the object of study. IT IS IRRELEVANT INFORMATION FOR THE RECEIVER because this information does not need it at this time
Based on the percentage of readers who own a particular make of the car and the random sample, we can infer that there is sufficient evidence at a 0.02 level to support the executive claim.
<h3>What is the evidence to support the executive's claim?</h3>
The hypothesis is:
Null hypothesis : P = 0.55
Alternate hypothesis : P ≠ 0.55
We then need to find the test statistic:
= (Probability found by marketing executive - Probability from publisher) / √( (Probability from publisher x (1 - Probability from publisher))/ number of people sampled
= (0.46 - 0.55) / √(( 0.55 x ( 1 - 0.55)) / 200
= -2.56
Using this z value as the test statistic, perform a two-tailed test to show:
= P( Z < -2.56) + P(Z > 2.56)
= 0.0052 + 0.0052
= 0.0104
The p-value is 0.0104 which is less than the significance level of 0.02. This means that we reject the null hypothesis.
The Marketing executive was correct.
Find out more on the null and alternate hypothesis at brainly.com/question/25263462
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