Answer:
a. a rightward shift of the demand curve for margarine
Explanation:
If the price of butter increases, consumers would demand less of butter and more of margarine. This would shift the demand curve of margarine to the right and the demand curve of butter to the left.
A substitute good is a good which can be used in place of another good. Substitute goods usually have a more elastic demand because if the price of the good increases, it can be easily substituted with another good.
The phenomenon exhibited by butter and margarine is known as cross price elasticity. It when the change in price of one good leads to a change in the quantity demanded of another good.
Eileen's advice would be most appropriate if this change in behavior is affecting the employee’s performance. An employee assistance program plays a key role in providing counselling to help employees that may be experiencing personal problems especially when they negatively affect their performance.
Answer:
a. $2,600,000
b. $2,500,000
Explanation:
The computation is shown below:
a. The additional revenue raised by State A is
= Revenue after applying the tax rate - initial revenue after applying the tax rate
where,
Initial revenue after applying the tax rate = $800 million × 5% = $40 million
And, the Revenue increased after applying the tax rate is
= $710 million × 6%
= $42.6 million
So, the additional revenue is
= $42.6 million - $40 million
= $2,600,000
b. The additional revenue raised by State Z is
= Sales tax rate × service volume
= 5% × $50 million
= $2,500,000
Assess organizational resources and evaluate risks and opportunities, It is this step in the marketing planning process that best corresponds to the articulation of a 10% increase in sales.
The marketing planning process is a methodical strategy for achieving marketing objectives. The marketing planning process includes the following steps: scenario analysis, goal-setting, strategy formulation, action programme development, implementation, control, review, and assessment. All of the managerial tasks of the company are coordinated with the aid of marketing planning process. In order to accomplish the general aims and goals of the company, it not only assists in coordinating the work of its own department but also in coordinating the managerial operations of every other department. Market penetration strategy, market development strategy, product development strategy, and diversification strategy are the four different types of the marketing planning processes.
Learn more about the marketing planning process here:
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