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ra1l [238]
3 years ago
5

Richard Anderson, an entrepreneur residing in Arizona, noticed that many of his friends and neighbors complained of the intense

heat during the summer months. In order to make the heat more bearable, Anderson developed and marketed a simple cooling system that sprayed a fine mist of water into the air. The system attached easily to patio roofs, backyard fences, and even golf carts. Since introducing the product on the market, Anderson has discovered that relatively large changes in the price of the system lead to relatively small changes in demand for his product. The demand for Anderson's product is:
Business
1 answer:
elena-s [515]3 years ago
5 0

Answer:

Inelastic

Explanation:

When the price elasticity of demand (PED) is lower than 1, the demand is said to be inelastic. This means that a 1% increase in the price of a good or service will result in a proportionally smaller reduction of the quantity demanded. The formula for calculating price elasticity of demand is:

PED = % of change in quantity / % of change in price

For example, if the price of gasoline increases by 5% but the quantity demanded for gasoline decreases only by 2%, the PED = 2% / 5% = 0.4, therefore the demand for gasoline is inelastic.

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As a manager your organization is constantly confronted with a variety of changes in the market or a wide range of situations. Y
boyakko [2]

Answer:

C. Michael

Explanation:

The least preferred coworker scale is a method used to determine the leadership style of individuals. It was developed by Fred Fiedler and American scholar.

When a person gives positive feedback on coworkers they are more relationship oriented and get a high LPC score.

For those that give negative feedback on coworkers, they are task oriented and will get low LPC scores.

Relationship oriented style is used when employees are experienced and know what to do, while task oriented leadership is needed when the team is less experienced or results need to be delivered in a short time.

The organization is constantly confronted with a variety of changes in the market or a wide range of situations. So this requires a mix of both relationship and task oriented leadership to adapt to changing organisational needs.

Michael is the best option with middle LPC score.

7 0
3 years ago
Select all the choices that decision makers could use marginal analysis for to make effective decisions.
mylen [45]
<span>Adding a machine to the factory and producing another car would be the choices that decision makers could use marginal analysis to make effective decisions.</span>
7 0
2 years ago
Read 2 more answers
A corporation had the following assets and liabilities at the beginning and end of this year. Assets Liabilities Beginning of th
xenn [34]

Answer:

Hence, the net income earned or net loss incurred by the business during the year $102,340.

Explanation:

3 0
3 years ago
A marketing channel is defined as a group of individuals and organizations that
lisabon 2012 [21]

Correct/complete Question:

A marketing channel is defined as a group of individuals and organizations that

a. consumes about one-half of every dollar spent on products in the United States.

b. directs the flow of products from producers to customers.

c. links producers to other marketing intermediaries.

d. manages transportation and warehousing functions.

e. takes title to products and resells them.

Answer:

B, directs the flow of products from producers to customers.

Explanation:

A marketing channel refers to the persons and activities that are involved in the movement or transfer of goods from the manufacturer to the consumer within the supply chain.

It can also be said to a network of distributing good and services

I hope this helps.

3 0
3 years ago
The following accounts were taken from the Adjusted Trial Balance columns of the work sheet: Accumulated Depreciation $3,200 Fee
koban [17]

Answer:

$12,100

Explanation:

Data provided;

Accumulated Depreciation = $3,200

Fees Earned = $17,400

Depreciation expense = $1,300

Insurance Expense = $200

Prepaid Insurance = $4,800

Supplies = $900

Supplies Expense = $3,800

Now,

The Net income

= Fees Earned - Depreciation Expense - Insurance Expense - Supplies Expense

= $17,400 - $1,300 - $200 - $3,800

= $12,100

5 0
3 years ago
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