Answer:
a. Smoking might decline by 7.2%
b. Teen smoking would decline by 12.6%
Explanation:
1. The elasticity of demand is able to check the amount that demand will reduce by if prices rose.
The formula is;
= % change in quantity demanded / % change in price
Given that a 10% price increase reduced cigarette consumption about 4% in the past, the elasticity is;
= -4%/10%
= - 0.4
Given that prices rise by 18%, the resultant decrease in consumption should be;
= - 0.4 * 18%
= -7.2%
b. Given and elasticity of demand of 0.7, the teen smoking rate would decline by;
= elasticity * price increase
= 0.7 * 0.18
= 12.6%
Answer:
In the United States and most countries, corporations, as legal persons, have a right to enter into contracts with other parties and to sue or be sued in court in the same way as natural persons or unincorporated associations of persons.
Answer:
Sorry I re-read the question, I am unsure of what the correct answer could be, however because he did not follow the guidelines and these were the terms agreed upon he did breach.
Answer:
Explanation:
determined,encouraging,childish hope this helps
Answer:
The risk should be accepted
Explanation:
CBA stands for cost-benefit analysis (CBA). it is a technique used in measuring the cost to an enterprise as well as the benefit that is associated with an intended course of action.
Some controls are costly to establish, it is a standard practice to measure the cost to an enterprise to establish control on a certain aspect of their operation and compare the result with the estimated benefit from such control. where it is discovered that the benefits outweigh the costs, the control will be implemented otherwise, the firm should accept the risk.