1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
natali 33 [55]
3 years ago
7

Calculate the price elasticity of supply for Bobbie's Bakery's sourdough loaf. When the price changes by 23 % 23% , the quantity

supplied changes by 53 % 53% . Round your answer to two decimal places.
Business
1 answer:
dlinn [17]3 years ago
5 0

Answer:

Price Elasticity of Supply = 2.40

Explanation:

Price Elasticity of Supply is buyers' responsive change in quantity supplied due to change in Price.

P Es Formula = % change in quantity supplied / % change in price.

Given : % change in supply = 53 ; % change in price = 23

So, P Es = 53 / 23 = 2.40  

% change in supply > % change in price & supply is > 1 . So, Supply is Elastic.  

You might be interested in
The Grange was an organization that____________.
Fittoniya [83]

Answer: Option A. established cooperatives for storing and marketing farm output

Explanation:

The Granges consist of many group of people that are mainly farmers and other group of people. The Grange is based on farm and rural community value. The Grange helps people, especially farmers by established cooperatives for storing and marketing farm output. Most Granges support community service and volunteer work in addition to providing their members with a community with whom to discuss farming matters. The Grange tries to bring together people involved in different areas of agriculture as well as different parts of the community.

8 0
3 years ago
Kathy has $50,000 to invest today and would like to determine whether it is realistic for her to achieve her goal of buying a ho
Tresset [83]

Answer:

So she must achieve about 11.61 %

Explanation:

Amount invest by Kathy = $50000

She wanted to buy a home for $150000

Time of investment = 10 years

We have to find the return which she received

Let she receives x return

So according to question 50000\times (1+x)^{10}=150000

(1+x)^{10}=3

(1+x)=3^{0.1}

(1+x)=1.1161

x=0.1161=11.61%

So she must achieve about 11.61 %

4 0
3 years ago
Dmitri is training for a triathlon, a timed race that combines swimming, biking, and running. Consider the following sentence: B
kondaur [170]

Answer:

Decision on the margins

Explanation:

Pool time seems to be having a greater effect at the moment, it makes sense for his to spend a bit more time in the pool and a bit less time on the bike.

However, this does not mean that it makes sense for her to spend all his time in the pool and no time on the bike. If he cut out all training on the bike, the value of a little bit of bike training might be higher than the value of the last hour of pool training. Dimitri does not treat biking versus swimming as an all-or-nothing decision. He makes small changes at the margin in the number of hours spent training for each activity.

Also they both realise that his time is fixed (20hrs) and anytime he wants to spend extra on one activit, is time he cannot spend on another (opportunity cost).

They are both trying to improve Dimitri's total time (exploiting opportunities to makes themselves better off).

An assumption that Dimitri realises that as he spends more time in the pool improving his swim time, his run and cycle times will suffer. As he swims more, his improvement is likely to slow down, while spending less time on cycling and running will cost him progressively more in terms of time.

Conclusion Dimitri is looking at the margins. His wife on the other hand, is not, she is ignoring the interaction, may be forgetting the decreasing improvements in swim and increasing deterioration in the other 2 legs.

4 0
2 years ago
Read 2 more answers
A key characteristic of a successful entrepreneur is:
avanturin [10]

Answer:

C) Learning to fail intelligently

Explanation:

Economics recognizes four factors of production, the first three are land, labor and capital:

  1. land: includes any raw materials and natural resources used to produce other goods
  2. labor: human work involved in the production process.
  3. capital: physical tools and equipment involved in the production process

The fourth and probably most important factor is entrepreneurship. An entrepreneur is the person that combines all the other 3 factors of production into a business. Entrepreneurs take the risk of setting up their own business and many times are great innovators that are able to recognize opportunities and take them.

But doing business is not easy and being an entrepreneur is even harder. No matter how much positive energy and great ideas an entrepreneur has, there is chance that he will fail several times. Creative processes are not linear, they work on a trial and error basis and sometimes that also applies to running a new business. But as the great Micheal Jordan said," the important thing is not how many times you fall, but how many times you stand up."

high energy level

6 0
2 years ago
Savings for You, a discount retail chain, is highly competitive. When entering a new market, Savings for You often cuts prices s
REY [17]

Answer:

<u>Predatory pricing</u>

Explanation:

A "predator" refers to an animal who survives by "preying" on other animals.

Predatory pricing in a similar sense refers to that form of excessively low pricing which in a way consumes other firms by taking away their share of industry revenues. Such form of pricing is considered illegal and is against healthy competition.

Such pricing eliminates competitors from the market and gradually leads to emergence of a monopoly i.e supremacy of a single firm in the whole industry and thus considered an illegal practice.

In the given case, the retail chain can be alleged to have followed predatory pricing which is substantiated by the fact that it cuts it's prices excessively i.e even below cost , thereby forcing smaller companies to exit the industry.

7 0
3 years ago
Other questions:
  • Arden Company reported the following costs and expenses for the most recent month: Direct materials $ 79,000 Direct labor $ 41,0
    7·1 answer
  • g Peng Company is considering an investment expected to generate an average net income after taxes of $2,700 for three years. Th
    11·1 answer
  • The ""simple ranking"" method for evaluating RFPs assigns an additional value to the rating scale to take into account the relat
    7·1 answer
  • Even though Yvonne is terrible at playing tennis, she could still consider it an interest of hers.
    7·2 answers
  • Suppose an initial investment of $100 will return $50/year for three years (assume the $50 is received each year at the end of t
    12·1 answer
  • In the current year, Jill, age 35, received a job offer with two alternative compensation packages to choose from. The first pac
    14·1 answer
  • Tanouye Corporation keeps careful track of the time required to fill orders. Data concerning a particular order appear below: Ho
    8·1 answer
  • Amrit initiated a new venture with cash Rs 20,000 ,bank balance Rs 80,000 and computer Rs 50,000​
    8·1 answer
  • If a company incorrectly records cash received for services to be provided in the future with a debit to cash and a credit to sa
    13·1 answer
  • Which one of the following statements is correct concerning the payback rule?
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!