Answer:
-4.3; inelastic
Explanation:
Initial price = $6.45
Initial quantity demanded = 600
New price = $6.95
New quantity demanded = 400
Percentage change in Quantity demanded:
= (Change in quantity demanded ÷ Initial quantity demanded) × 100
= [(400 - 600) ÷ 600] × 100
= (-200 ÷ 600) × 100
= 0.3333 × 100
= -33.33%
Percentage change in price:
= (Change in price ÷ Initial price) × 100
= [($6.95 - $6.45) ÷ $6.45] × 100
= ($0.5 ÷ $6.45) × 100
= 0.0775 × 100
= 7.75%
Therefore, the price elasticity of demand is as follows:
= Percentage change in quantity demanded ÷ Percentage change in price
= -33.33 ÷ 7.75
= -4.3
Hence, the price elasticity of demand is inelastic.
Answer:
<u>Understand the decisions</u>
Explanation:
Whenever people as a group discuss a matter, bringing out all argument in favor and against a decision and subsequently settle upon a course of alternative, such an activity promotes mutual understanding and resolves conflicts.
Involving the people in decision making process, who will ultimately implement a decision, builds trust and makes the implementation process much smoother as employees are able to gain a better understanding.
In the given case, Terra invited her staff for discussions, exchange of ideas and thoughts so as to collectively as a group, arrive at a decision. Members in such a scenario will be able to appreciate the decision better and such an activity helps people to gain a better understanding of the decision.
Answer:
math promlem and science problem
If an asset costs $140000 and is expected to have a $20000 salvage value at the end of its 10-year life, and generates annual net cash inflows of $20000 each year, the cash payback period is <u>7 years</u>.
To apply the coins payback technique, honestly divide the value of the capital improvement or funding with the aid of the brand new cash it's far expected to generate or store each year. This must give you a bring about years.
In simple terms, the payback length is calculated by using dividing the cost of the funding by way of the once-a-year coins going with the flow until the cumulative cash flow is effective, which is the payback year.
The payback period is expressed in years and fractions of years. for instance, if a corporation invests $300,000 in a new production line, and the manufacturing line then produces an advantageous cash drift of $ hundred,000 according to 12 months, then the payback length is three.zero years ($three hundred,000 preliminary investment ÷ $100,000 annual payback).
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The correct answer is Administrative decision making model.
The Administrative decision making model assumes incomplete information and bounded rationality.
<h3>What is Administrative decision making model?</h3>
- The theory of decision making was given by a famous psychologist, economist and sociologist. His name was Herbert Simon.
- He even received a Nobel Prize in Economics.
- The Administrative decision making model is a kind of a descriptive model.
- It gives us an overview of how people and managers actually make decisions in difficult situations.
- Another kind of model that Simon gave was the Rational decision making model.
- It is when people use the available facts and information to make their decisions.
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