If you have several calls coming in at one time, you should

Two drivers—tom and jerry—each drive up to a gas station. before looking at the price, each places an order. tom says, "i'd like

Tatiana [17]

Price elasticity of demand is defined by Change in Quantity demanded / Change in Price.

Tom ordered 10 gallons of gas without asking about the price. This means that no matter the price, Tom orders the same quantity of gas (quantity demanded does not change with price). His demand is perfectly inelastic, or 0.

Jerry orders $10 worth of gas. This means that no matter how much it gives him, Jerry will pay $10. The price elasticity of demand depends on how much the price changes by.
For example, if price doubles from $5/gal to $10/gal, demand falls by 50% (2 gallons to 1 gallon), making his price elasticity -0.5
If the price increase 10% from $10/gal to $10.10/gal, demand falls 1% from 1 gal to .99 gallons, making his price elasticity -0.1

6 0

3 years ago

By how much does the current GDP rise in the following scenario? A real estate agent sells a house for $250,000 that the previou

Aloiza [94]

Answer:

c. $10,000.

Explanation:

Gross domestic product is the sum total of all goods produced in a country in a given period. Sale of used good are not considered in GDP because the original value of the used item would have been recorded previously as GDP when it was first produced.

Therefore in this scenario the money paid for the house ($250,000) is not considered to be part of GDP since the original value of $90,000 would have been recorded as GDP 10 years ago.

However the commission of $10,000 that the real estate agent collected for his services is considered a contribution to GDP.

8 0

3 years ago

Rhonda, a junior accountant at a manufacturing company, was laid off from her job because she rejected multiple requests from th

Shtirlitz [24]

Answer: quid pro quo sexual harassment

Explanation:

The scenario represented in the question regarding Rhonda and her company's chief financial officer is referred to as quid pro quo sexual harassment.

Quid pro quo sexual harassment is a situation that occurs when benefits, pay, employment, position, training, title, position are based on the condition that the other individual involved agree to ones sexual advances. It should be noted that this is illegal.

6 0

3 years ago

Pick a number from 1 to 50 winner gets 30 points. You can comment or answer on this question.

White raven [17]

Answer:

43

Explanation:

6 0

3 years ago

Read 2 more answers

CVP analysis—what-if questions; sales mix issue Miller Metal Co. makes a single product that sells for $32 per unit. Variable co

Lilit [14]

Answer: See explanation

Explanation:

a. Calculate the number of units that must be sold each month for the firm to break even.

Breakeven units = Fixed cost / Contribution margin per unit

= $47600 / ($32 - $20.80)

= $47600 / $11.20

= 4250 units

b. Calculate the margin of safety and the margin of safety ratio.

Margin of safety = $418000 - ($32 × 4250)

= $418000 - $136000

= $282000

Margin of safety ratio = $282000/$418000 = 0.68

c. Calculate operating income if 7,000 units are sold in a month.

= [($32 - $20.80) × 7000] - $47600

= $78400 - $47600

= $30800

d. Calculate operating income if the selling price is raised to $47 per unit, advertising expenditures are increased by $8,000 per month, and monthly unit sales volume becomes 7,600 units.

Sales = 7600 × $47 = $357200

Less: Variable cost at $20.8 = $158080

Contribution = $199120

Less: Fixed cost = $47600

Less: Advertising expense = $8000

Operating income = $143520

3 0

3 years ago