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TEA [102]
3 years ago
13

MIT economist Jerry Hausman has estimated the price elasticity of demand for Post Raisin Bran cereal to be minus

Business
1 answer:
e-lub [12.9K]3 years ago
7 0

Answer:

Elastic; Inelastic; If a good is narrowly defined

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded with any change in the price level of the product.

(a) If the price elasticity of demand is greater than one in absolute terms then the demand for that product is said to be elastic. Therefore, the demand for Post Raisin Bran cereal is elastic.

(b) Alternatively, if the price elasticity of demand is less than one in absolute terms then the demand for that product is said to be inelastic. Therefore, the demand for all types of breakfast cereals is inelastic.

(c) If the goods are narrowly defined, this means that there are large number of substitutes available. This indicates that the demand for these goods is elastic. Alternatively, if the goods are broadly defined then there are less number of substitutes are available. This means that the demand for these products is inelastic.

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The following labor standards have been established for a particular product:Standard labor hours per unit of output 4.3 hoursSt
Nat2105 [25]

Answer: 1. $690 (favorable)

2.  $9045 (favorable)

Explanation: These can be computed as follows :-

Labor rate variance = Actual labor cost - (standard rate * actual hours)

                                  =  $139,380 - ( $20.1 * 6900 hours )

                                  = $690 (favorable)

.

Labor efficiency variance = ( Actual hours - standard hours ) * (standard rate )

                                          = [6900 hours - (1500 units * 4.3 hours) ] * ($20.1)

                                          = $9045 (favorable)

7 0
3 years ago
Your company sells consulting services in legal forecasting to multinationals studying foreign market entries. In some countries
enot [183]

Chances are that when your company, which sells consulting services to multinationals, is forecasting legal decisions in <u>domestic markets</u>, the predictions will be MUCH MORE accurate than when forecasting legal decisions in <u>foreign markets</u>.

<h3>What is the difference between domestic and foreign markets?</h3>

The difference between domestic and foreign markets is that a company offering forecasting legal decisions will be very more familiar with the domestic market than the decisions that can be taken in foreign markets.

Chances are that when your company, which sells consulting services to multinationals, is forecasting legal decisions in <u>domestic markets</u>, the predictions will be MUCH MORE accurate than when forecasting legal decisions in <u>foreign markets</u>.

Learn more about domestic and foreign markets at brainly.com/question/15115779

8 0
2 years ago
The fact that corporate travelers are less price sensitive than most leisure travelers because the corporation pays for the trav
Readme [11.4K]

Answer:

The correct answer is D. shared cost effect

Explanation:

The shared cost effect refers to the reduction in price sensitivity of a customer created through the perception that part of the purchase price is paid for by a third party of the firm itself.

5 0
3 years ago
Wassenaar Arrangement HIPAA PCI DSS FERPA GLBA SOX A. Provides safeguards for credit card transactions B. controls the way finan
Amiraneli [1.4K]

Your question is quite unclear, However it would be inferred you want a match of the functions of the abbreviated organizations.

Explanation:

Wassenaar Arrangement

C. International agreement that controls the export of encryption technologies; in order  to combat terrorism.

HIPIAAB (Health Insurance Portability and Accountability Act).

D. Provides data privacy for safeguarding medical information

PCI DSS (Payment Card Industry Data Security Standard).

A. Provides safeguards for credit card transactions

GLBAD (Gramm-Leach-Bliley Act)

B. controls the way financial institutions deal with private information of individuals.

SOX (Sarbanes-Oxley Act).

F. protects investors from fraudulent accounting activities.

8 0
3 years ago
What is the name of the specific protection that the insurer provides to the policy holder
kupik [55]

Answer:

option D is correct answer

Explanation:

hope it's helpful for you

5 0
2 years ago
Read 2 more answers
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